Despite all the brexite uncertainties – the British capital is still one of the most sought-after locations for business and financial companies in Europe. This is reflected in a correspondingly high demand for office property. In terms of prices and rents, London is at the top of the world league. For real estate investors, office properties in the Thames metropolis are therefore generally still interesting. The recent acquisition of an office building in the City of London by Luxembourg-based RE Invest should also be seen against this background. This article is based on the unique List of the 400 largest German real estate investors in Germany.
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Not far from the Bank of England
The office tower is located on Lombard Street, a street rich in tradition in the City of London. The Bank of England and the Royal Exchange, the former London Stock Exchange and now a popular shopping centre, are located here. Many well-known financial institutions have their headquarters or at least a branch in Lombard Street. The property acquired by RE Invest is a nine-storey office tower, which also has a basement and a basement with 76 bicycle stands. The building offers an area of around 5,500 square meters. On the ninth floor there is access to a terrace with a beautiful skyline view.
The property was only completed in 2019, so it is almost a new building. Special attention was paid to sustainability during construction. The building has been awarded the BREEAM sustainability certificate. The office tower was fully let to the asset manager St. James’s Place Wealth Management. The lease is for at least 15 years. There is therefore long-term earnings security.
RE Invest is a real estate investment company based in Luxembourg and is a subsidiary of RE Invest Advisor Services S.à r.l. RE Invest Advisor Services is an owner-managed independent company and was founded in 2014 by real estate fund manager and consultant Karsten Kunze. The London property was acquired for the RE Invest fund DEREIF SICAV FIS.
Source: Finanzen.net Picture source: Unsplash