Legal & General (L&G) on behalf of its Managed Fund has acquired 30 Golden Square, a newly refurbished Grade A office building in London’s West End.
This is the 12th acquisition for the fund this year, demonstrating its ongoing commitment and optimism for the sector.
30 Golden Square, which is situated in the heart of London’s Soho, is a freehold building comprising 32,492 ft2 of Grade A office and ancillary accommodation arranged over basement, ground and seven upper floors and five external private terraces, a communal roof terrace and a communal business lounge. The building is currently multi-let to five office occupiers and one retail occupier.
Constructed in 1999, 30 Golden Square underwent a comprehensive back to frame refurbishment in December 2023 and is currently targeted to achieve BREEAM ‘Excellent’, EPC A and zero emission aligned with UKGBC net zero.
This acquisition aligns with L&G’s offices investment strategy in that it has facilitated access to high quality real estate in one of the most sought-after London locations. The building is also in close proximity to other L&G assets enabling further synergy across its London office portfolio, the company said.
Rob Codling, fund manager, Managed Fund, L&G Asset Management commented: 'The market is displaying increasing signs of positivity, and we continue to take advantage of this point in the market cycle to deploy capital across all sectors of the market in line with Fund strategy. The offices sector has faced significant headwinds but, in our view, prime assets have largely rebased and we have strong conviction around those offices situated in the strongest locations and with the highest ESG credentials, like 30 Golden Square.'
Colliers acted for L&G. Savills acted for the Vendor.
