HIH Global Invest, the fund management company of HIH Hamburgische Immobilien Handlung, said it has bought the Friary Court office building in London's financial district for around £42.6 mln (around EUR 50 mln). The seller was LaSalle Investment Management.
HIH Global Invest, the fund management company of HIH Hamburgische Immobilien Handlung, said it has bought the Friary Court office building in London's financial district for around £42.6 mln (around EUR 50 mln). The seller was LaSalle Investment Management.
The Grade A property has a gross lettable area of 6,942 m2. It is fully let for a 15-year term to law firm Holman Fenwick Willan LLP. The building dates from 1984 and was extensively refurbished in 2008. The property is earmarked for the HIH Global Invest 02 Großbritannien fund, with share sales scheduled to start in mid-August.
'For investors with a long-term horizon, London remains one of the most attractive locations, offering very favourable entry opportunities at the moment,' said Andreas Schultz, CEO of HIH Global Invest, commenting on the acquisition.
King Sturge acted as consultant during the transaction.
