Art-Invest Real Estate has announced the acquisition of Sackville House in London on behalf of one of its regulated investment funds from UK firm Amsprop.
Financial details were not disclosed.
Sackville House encompasses 33,000 sq ft of office and retail rental space in London's West End on the corner of Sackville Street and Piccadilly. It includes a Lloyds Bank branch on the ground floor, and a diversified office tenant structure on the upper floors. The building has been owned by Amsprop since 2003.
It is the third acquisition in the UK by Art-Invest since entering the London market in 2019 with the purchase of the 101 Cleveland Street project together with ECE.
Last June, Art-Invest Real Estate also bought a 5 acre property in Canada Water from Notting Hill Genesis.
‘The London real estate market is showing an attractive momentum for Manage to Core Investments. With our local office, we can optimally support the "Return to UK" strategy,’ said Jan Dührkoop, managing director at Art-Invest Real Estate.
Ali Abbas, head of Art-Invest in the UK said: ‘This acquisition makes me particularly proud in two ways: On the one hand, because with Sackville House we were able to make an investment for one of our institutional investment funds in London for the first time. On the other hand, it is another very promising project for our London portfolio, .’
