US property company Behringer Harvard has entered the UK with the acquisition of a long-term leasehold interest in Becket House, in the City's financial district, for an undisclosed amount. The property offers 4,300 m[sup]2[/sup] of office space that is fully leased to Citigroup and Wavecrest UK.
US property company Behringer Harvard has entered the UK with the acquisition of a long-term leasehold interest in Becket House, in the City's financial district, for an undisclosed amount. The property offers 4,300 m2 of office space that is fully leased to Citigroup and Wavecrest UK.
Behringer Harvard carried out the purchase in a joint venture with Hunter Property Fund Management, a Scotland-based commercial property investment company.
'Becket House is a prime real estate asset in a market that has a history of strong performance,' said Robert Behringer, chairman and CEO of Behringer Harvard.
The property comprises six floors of office space, with retail units on the ground floor. The land on which this property sits at Cheapside Street has been owned since the 14th century by the Mercers Company, formerly a merchants’ guild. Cheapside Street is experiencing a large-scale renaissance, and several of the area's office properties are in various stages of renovation and expansion, including Land Securities' OneNew Change 220,000 sq ft redevelopment.
Behringer Harvard's property portfolio in Western Europe consists of eight office properties in Amsterdam and a multi-family apartment community in Hamburg.
