Deka Immobilien has acquired Bureau office building at 90 Fetter Lane from Evans Randall Investors for £118m.
The property is to be included in the Deka-ImmobilienMetropolen open-ended real estate fund.
Bureau has a lettable area of more than 6,900 square meters and 130 bicycle parking spaces. It is rented long-term and almost completely to four occupiers. The main tenant is Anheuser-Busch InBev UK, the largest brewery group in the world.
With this transaction, the fund management is expanding the Deka-ImmobilienMetropolen portfolio. The fund is aimed exclusively at private investors and invests in commercial real estate in dynamically growing metropolises around the world with currency hedging. The target investment markets are selected using a city selection model that is geared towards the long-term growth drivers - globalization, urbanization, ecology and new working environments.