London
CBRE Global Investors Acquires Prime 256,900 SQ FT London Office Building from Deka Immobilien
17 Feb 2021
Corporate Communications Director
Helen Stott
Corporate Communications Director
CBRE Global Investors, on behalf of a pan European Fund, has acquired Atlantic House, 45-51 Holborn Viaduct, London EC1. The vendor is Deka Immobilien.
Atlantic House is a prime 256,900 sq ft office building built in 2001. Accommodation is arranged over 12 floors with 7,600 sq ft of ancillary retail on the ground floor. It is a well-configured, flexible building developed to a high specification with large floor plates, roof terraces on the 8th, 11th and 12th floor and excellent natural light.
The asset is let in its entirety to Hogan Lovells International LLP for a further six years.
Located in EC1, a prime location in the City of London, the building benefits from dual frontage to Holburn Viaduct and Farringdon Road. The office building is situated 200 metres from Farringdon train station which is forecast to become one of the UK’s busiest stations.
Deka acquired the long leasehold interest in 2004 and subsequently acquired the freehold interest in 2009.
“We are delighted with the acquisition of this property. Atlantic House offers the opportunity over the medium term to create a best in class office building in a top-quality location. Its acquisition underlines our belief that the best office assets will continue to be in demand from both an occupier and investor perspective,” said Richard Dean, Head of UK Real Estate Execution, CBRE Global Investors.
John Heaver, director in Strategic Investment Advisory at Savills, comments: “Atlantic House is a fantastic example of Deka’s long term investment strategy to selectively acquire high quality core real estate in gateway cities, drive performance and exit opportunely.”
CBRE Global Investors were advised by TT&G and Linklaters. Deka were jointly advised by Savills and Simmons & Simmons.
About CBRE Global Investors
CBRE Global Investors is a global real assets investment management firm with $114.5 billion in assets under management* as of September 30, 2020. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE). It harnesses the research, investment sourcing and other resources of the world’s largest commercial real estate services and investment firm (based on 2019 revenue) for the benefit of its investors. CBRE Group, Inc. has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com
*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers.
Atlantic House is a prime 256,900 sq ft office building built in 2001. Accommodation is arranged over 12 floors with 7,600 sq ft of ancillary retail on the ground floor. It is a well-configured, flexible building developed to a high specification with large floor plates, roof terraces on the 8th, 11th and 12th floor and excellent natural light.
The asset is let in its entirety to Hogan Lovells International LLP for a further six years.
Located in EC1, a prime location in the City of London, the building benefits from dual frontage to Holburn Viaduct and Farringdon Road. The office building is situated 200 metres from Farringdon train station which is forecast to become one of the UK’s busiest stations.
Deka acquired the long leasehold interest in 2004 and subsequently acquired the freehold interest in 2009.
“We are delighted with the acquisition of this property. Atlantic House offers the opportunity over the medium term to create a best in class office building in a top-quality location. Its acquisition underlines our belief that the best office assets will continue to be in demand from both an occupier and investor perspective,” said Richard Dean, Head of UK Real Estate Execution, CBRE Global Investors.
John Heaver, director in Strategic Investment Advisory at Savills, comments: “Atlantic House is a fantastic example of Deka’s long term investment strategy to selectively acquire high quality core real estate in gateway cities, drive performance and exit opportunely.”
CBRE Global Investors were advised by TT&G and Linklaters. Deka were jointly advised by Savills and Simmons & Simmons.
About CBRE Global Investors
CBRE Global Investors is a global real assets investment management firm with $114.5 billion in assets under management* as of September 30, 2020. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE). It harnesses the research, investment sourcing and other resources of the world’s largest commercial real estate services and investment firm (based on 2019 revenue) for the benefit of its investors. CBRE Group, Inc. has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com
*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers.