Italian asset manager Antirion has acquired a mixed-use property at 55, Wells Street in London for £65.5 mln (€74 mln).
The acquisition was made for the core mandate of its Antirion global fund, a closed-end alternative mutual fund which is underwritten by Italian pension fund Enpam.
In addition to a rooftop and the basement, the building consists of seven floors above ground and has a total gross floor area of about 3.600 m2, mainly intended to serve as offices. A reception and the Rovi restaurant are located on the ground floor.
'This investment confirms our confidence in the real estate market of London, which today shows a unique dynamism if compared to the rest of Europe,' said Ofer Arbib, CEO of Antirion.
The buiding is currently 90% occupied, with Williams Lea, a marketing and communications firm, as main tenant.
Historically known as Tasman House, the Fitzrovia property hosted a local court until 2016, year when the former owners - Great Portland Estates - started the proceedings for its complete demolition and reconstruction, based on a project by architects Buckley-Gray-Yeoman.
The works were completed in November 2017 to a BREEAM Excellent level.
