Deka Immobilien GmbH has acquired the 2 Temple Back East office building for £31 million (approx. 35 million). The property, which is located at the heart of Bristol's business district in the UK, was completed in 2002 and boasts total floor space of around 8,100 m² on five floors. It is fully let. Osborne Clarke, a renowned international law firm, is the only tenant and has signed a long-term lease agreement.
A special fund of SEB Asset Management is the vendor of the property. The property will be included in the Deka-S-PropertyFund No. 2 individual fund.
Thomas Schmengler, Managing Director of Deka Immobilien GmbH, explained: "For our special property funds and individual funds we are increasingly looking for first-class property in secondary (B category) cities."
As the largest city in the South West of England, Bristol is the center of a region with above-average economic power. The city's structure is dominated by financial services providers and consultancy firms.