Privately owned Beltane Asset Management has acquired two London office buildings off-market for £20 mln (€23.50 mln).
Privately owned Beltane Asset Management has acquired two London office buildings off-market for £20 mln (€23.50 mln).
Beltane has acquired 108 Cannon Street, EC4 and Asia House, Lime Street EC3 in the City of London.
108 Cannon Street was bought for £16.35 mln from a private investor. The building comprises 3,280 m2 over lower ground, ground and six upper floors and is let to Rabobank Nederland until 2014.
'We intend to undertake a grade A refurbishment of the building when we gain vacant possession in 2014,' said Beltane partner Duncan Roe. 'This provides us with the opportunity to take advantage of both the improving sentiment within the City core and the continued improvements to Cannon Street.'
The vacant, 1,500 m2 Asia House, in the heart of the City’s insurance district, was bought for £3.9 mln from Land Securities.
Beltane also owns St Paul’s House EC4, 12 Mason’s Avenue EC2, 20 St Mary at Hill EC3 and 77 Queen Victoria Street EC4.
GM Real Estate acted for Beltane on 108 Cannon Street. Knight Frank represented the vendor. Knight Frank acted for Beltane on Asia House.
