Beltane acquires two City buildings for EUR 17m

Beltane Asset Management has acquired two buildings in the City of London business district from ING for £15.14 mln (EUR 17.2 mln).

Beltane purchased two other Central London properties in 2010.

London-based Beltane is an investment and asset management company targeting opportunities in Central London and Europe. It was set up by Jonathan Chenery and Duncan Roe in May last year.

The new acquisitions are 20 St Mary at Hill and 12/14 Mason's Avenue. The St Mary's property comprises 3,600 m² of vacant office space. The other property includes a ground floor wine bar let to Corney and Barrow, a well known City agent haunt, and houses with 836 m² of vacant offices above. The offices will be substantially refurbished over the next six months.

Hall Kemp acted for Beltane on the Corney and Barrow building and BNP Paribas Real Estate acted for ING. BNP Paribas advised on the acquisition of 20 St Mary at Hill, and Michael Elliot acted for the vendor.