Patrizia Immobilien’s UK-focused fund has added a £39m (€45m) London office asset to its portfolio.
The open-ended £525m Hanover PUT fund has acquired Coda Studios office space in Fulham from Colombia Threadneedle.
Coda Studios provides almost 65,000sqft of gated, secure office accommodation across 56 self-contained private suites, ranging in size from 300sqft to 3,000sqft.
Simon West, the fund manager of Hanover at Patrizia, said: “This is a unique West London business and we see a real opportunity to offer the type of office accommodation that tenants are seeking in today’s market.
“95% of private businesses in the UK employ less than 50 people and Coda is perfectly placed to attract these companies.”
Charlie Bishop of Moorevale, Patrizia’s local operating partner for the Coda project, said: “We are genuinely excited about teaming up with Patrizia once again. This project holds great potential and provides a comprehensive occupational solution for small- and medium-sized enterprises.”