Allianz Immobilien GmbH has purchased the commercial property 'Sherborne House' in 119 bis 121 Cannon Street London City, EC4 for Allianz Lebensversicherungs-AG. This is the second purchase in Great Britain for the company.
The 6-story property is in the City of London, in the heart of the banking district, near the Bank of England. The 1,112 m² site looks onto the busy Cannon Street. Sherborne House has a total surface area of approx. 5,460 m² including 3,904 m² of office space, 384 m² of retail space and 986 m² for a restaurant and pub. Approximately 85% of the space is let. The building was constructed in 1984 and has continuously been refurbished in the past few years.
"The London office market offers excellent perspectives for a growth in value", commented Mr Dirk Schlürmann, managing director of Allianz Immobilien GmbH, on the investment of approximately €53 million. The good prospects which London offers as a real estate location already induced Allianz to purchase Weston House in London-Midtown in February.