Deka Immobilien buys in Bristol (DE/UK)

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.

Source: DekaBank

Related News