AXA Investment Managers - Real Assets has agreed the acquisition of the Asticus Building in Victoria, central London, for £80 mln (€105 mln).
The transaction is made on behalf of AXA IM - Real Assets’ recently launched AXA CoRE Europe fund. This will be the fund’s first UK acquisition, following on from that of France’s tallest tower, Tour First, located in Paris, alongside a club of investors, in March this year.
The vendor is the Aberdeen UK property fund.
The transaction is in line with AXA CoRE Europe’s strategy to provide institutional investors with long-term stable income through the acquisition of core real estate assets across Europe, the buyer said in a statement.
The multi-let office accommodation provides 60,731 sq ft (5,642 m2) of space arranged over a basement, ground and nine upper floors.
Rainer Suter, fund leader for AXA CoRE Europe, commented: 'Victoria is host to a number of leading businesses and the strategic location of this asset, coupled with the quality of tenants, fits well with the stated Fund commitment of targeting mainstream assets that have a high building quality let to strong tenants on a medium-to-long term basis.'
