CBRE Global Investors announces that it has acquired Thames Court, 1 Queenhithe, London EC4 for £165 million (approx. 207 million) on behalf of a Korean client, Public Officials Benefit Association (POBA). The vendor was Apollo Real Estate.
Thames Court provides 21,160 m² of office, retail and storage accommodation.
The freehold City office building provides grade-A office accommodation comprising a total of 21,160 m² of office, retail and storage accommodation arranged over basement, lower ground, ground and four upper floors.
The office accommodation is let to the Dutch Bank, Cooperatieve Centrale Raiffeisen Boerenleenbank BA ('Rabobank Group') and Royal Bank of Canada and the retail unit is let to Etsu Café.
Thames Court is located in the City of London on the south side of Upper Thames Street, overlooking the River Thames and has excellent natural light. The property is situated midway between Cannon Street Station and Blackfriars Station and benefits from ideal transport infrastructure.
Gary Moore, Senior Director, Head of International Separate Accounts commented: "We were delighted to be appointed last year to manage POBA's separate account and this is a significant acquisition for their first step into the UK investment market.
"The investment criteria were good quality buildings in the City core, both single and multi-let with strong long-term income. Thames Court falls within these parameters and satisfies their distribution income requirement."
CBRE Global Investors were advised by Savills and GM Real Estate acted for Apollo Real Estate.
Source: Citigate Dewe Rogerson