Orchard Street Investment Management has bought a commercial property in London from DTZ Investors for a pension fund.
The specialist commercial property investor said it acquired 80 Clerkenwell Road, on behalf of the unnamed pension fund client, for £18.5m (€20.8m).
The multi-let warehouse-style property was redeveloped in 2017 and comprises 12,387sqft of floor space.
Orchard Street said the asset benefits from a visible boutique showroom, whilst the upper floors comprise modern office accommodation fully-let to four tenants.
Barney Rowe, partner at Orchard Street, said: “We are firm believers in the long-term strength of Clerkenwell and consider this best-in-class asset to be an excellent addition to our portfolio.
“The local area is a well-established hub of activity which is already well-connected and is set to become even more so with the imminent arrival of Crossrail, further increasing its appeal to a broad range of occupiers.”