Deutsche Bank’s real estate investment management arm has sold the Helicon building in the City of London for an undisclosed amount.
Deutsche Bank’s real estate investment management arm has sold the Helicon building in the City of London for an undisclosed amount.
Deutsche Bank declined to reveal the name of the buyer.
Situated in a prominent location in the City of London, the property built in 1996 comprises eight floors and over 130,000 sq ft (12,100 m2) of office and retail space. Since acquiring The Helicon in 2004, Deutsche Bank’s asset management business implemented an extensive redevelopment of the asset.
'A buoyant occupier market in the City of London combined with the successful completion of our asset management initiatives suggested timing was right to sell The Helicon,' said James Petit, head of Real Estate, UK and Ireland at Deutsche Bank.
The UK real estate business of Deutsche Bank’s asset management arm currently holds €5.4 bn in assets under management, and 60 properties as of September 30, 2015.
The business recently acquired the FCA headquarters in Stratford, London for £370 mln.
