Standard Life Investments has acquired an office property in East London for £41 mln (€51.6 mln) on behalf of a separate account client.
Standard Life Investments has acquired an office property in East London for £41 mln (€51.6 mln) on behalf of a separate account client.
The 9,290 m2 property is located in Whitechapel on the eastern fringe of the City of London and consists of seven floors and a basement car park. Current occupiers include insurer Generali and Level 3 Communications.
Jason Baggaley, fund manager at Standard Life Investments, said: ‘We’re pleased to have purchased this prime office asset, it is a great investment with strong potential for future growth. Given the continued increase in demand for quality office space in the eastern fringe of the City, it was the right time to buy this asset which has the potential to deliver strong returns for our client.’
Standard Life Investments was advised by Allsop and Trinova Real Estate acted for the vendor.
