Deka Immobilien has exchanged contracts to acquire a high-quality office building in London for a "headline price" of €95.4m (£86m). The vendor is Aberdeen Standard. The property is to be included in the portfolio of the open-ended real estate fund Deka-ImmobilienGlobal.
The Cursitor Building is located in the established Midtown office market in the immediate vicinity of the Royal Courts of Justice and has excellent transport links. The property was recently refurbished in 2017. It offers almost 6,900m² of space spread over seven floors. The property is fully let on a long-term basis to five users, with WeWork as the main tenant. The Cursitor Building has been certified with a BREEAM rating of "Excellent". With the acquisition, Deka-ImmobilienGlobal expands its portfolio in Great Britain to three properties. Each of them is located in core locations within London.
