Swiss investment foundation AFIAA has acquired an office building in London’s West End. Constructed in 1916, the property located at 14 Tothill Street was extensively renovated and modernised in 2007. The building has seven floors and a total usable floor space of 59,892ft² (around 5,500m²). The whole property is rented out to the administrative unit of the Lower House of the British Parliament. Thanks to the nearby St. James’s Park underground station, the asset has excellent public transport connections within London.
The seller is Bayernfonds Grossbritannien 2, a fund issued by Real I.S. AG. The parties agreed that they would not disclose the purchase price.
“The newly acquired property in Tothill Street perfectly complements our portfolio in the centre of London which comprises properties in the City, Midtown, Soho and St. James’s. This acquisition represents another milestone in the implementation of our focused growth strategy,” commented Sebastian Feix, Global Head of Transactions at AFIAA.