Pan-European property investor Kajima has acquired a 31,000sqft office development in London’s West End as part of a value-add strategy in the UK capital.
Kajima has invested an undisclosed sum to acquire the asset at 27 Soho Square from Federated Hermes. Fineman Ross acted on behalf of the buyer and Harris Associates on behalf of the seller.
The recently refurbished seven-storey building, currently let to five tenants, was originally constructed in 1985.
Kajima said the acquisition forms part of its strategy to identify commercial value-add opportunities in central London, “which exhibit the potential to provide prime office workspace with high sustainability criteria that meet modern occupiers’ growing demands”.
Tim James, investment director at Kajima, said: “27 Soho Square is a milestone addition to our London office portfolio and continues our aggregation strategy into core London sub-markets where we seek to identify value add opportunities that are supported by robust occupational demand drivers.”
Kajima’s London office portfolio includes the 83,000sqft 77 Coleman Street and Orwell House in Fitzrovia, and received planning permission last month to refurbish and extend the building into workspace.
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