On behalf of one of its institutional funds, IVG has acquired 20 Cannon Street EC4, a high quality office building in the heart of the City of London.
20 Cannon Street is a state-of-the-art office development which was completed by Allied London and Aerium in June 2012. The building is situated on a highly prominent island site between St Paul’s Cathedral and the Bank of England.
The fully glazed building provides 38,800 sq ft (approx. 3,600 sqm) of office space over six floors with a roof terrace overlooking St Paul’s Cathedral. The property also benefits from a BREEAM excellent rating and provides basement parking for 6 cars and 50 bicycles. Prior to practical completion, the offices were pre-let to a leading international consultancy firm on a 15 year lease and it will serve as their new global headquarters.
IVG Institutional Funds acquired the asset for a price of around £30million and were represented by Knight Frank and CBRE. Aerium and Allied London were advised by Franc Warwick and Savills.
Source: IVG Institutional Funds