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 256,900ft² office building built in 2001. Accommodation is arranged over 12 floors with 7,600ft² 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, commented: “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.”