US multinational media group Omnicom has acquired its London headquarters at 2 & 3 Bankside from German fund manager DWS.
Financial details were not disclosed, but media reports place the deal in the £440 mln (€519 mln) range.
The two independent and structurally separate properties on the Southbank comprise nine floors each and offer a total lettable area of around 38,646 m2.
Omnicom is the sole tenant of the office element. The ground floor contains retail space. The building complex was completed in 2007 and purchased by DWS in 2017 for a German retail real estate fund.
Ronen Ribak, head of real estate transactions, Europe at DWS said: 'Over the term of our ownership, 2 & 3 Bankside has delivered attractive risk adjusted returns in terms of income growth and capital appreciation for our investors. We have taken the market opportunity to sell this asset.
'DWS will continue to seek high-quality assets in key locations and priority sectors such as the wider living sector and offices with ESG related value creation opportunities across the UK and Europe. London continues to be a key market for our funds.'
