Oxford Properties, the real estate arm of Canadian pension fund investor OMERS, has acquired the home of the London Stock Exchange for £235 mln (€279 mln).
Oxford Properties, the real estate arm of Canadian pension fund investor OMERS, has acquired the home of the London Stock Exchange for £235 mln (€279 mln).
The Paternoster Square building was acquired from Japanese corporation Mitsubishi Estate Company (MEC). The sale price reflects an initial yield of 5.3%. Proceeds from the sale will be used to fund MEC’s new and existing investment and development pipeline.
The mixed-use development comprises a 246,000 square feet (23,000 m2) office element and 22,000 square feet (2,000 m2) of retail space.
The LSE is the primary tenant of the office element on a lease which expires in September 2028. Subtenants include Portuguese bank Grupo Banco Espirito Santo and Numis Securities.
MEC was advised by Cushman & Wakefield and CBRE advised Oxford on the acquisition.
