Deka Immobilien GmbH, represented by Savills, is acquiring 1 Southampton Row located in London's Covent Garden for the open-ended real estate fund Deka-ImmobilienEuropa from Grandsoft Limited in an off market transaction for circa £110 million (approx. 134 million).
Designed by architects Sheppard Robson and completed in June 2009, 1 Southampton Row comprises 9,893 m² of highly specified office accommodation that sits above approximately 1,918 m² of retail space fronting High Holborn. The freehold property is currently let to seven retail tenants and three office tenants including
Carpmaels & Ransford, Sodexo and Metro Bank generating an average passing rent of circa £500 per m².
Allsop acted for Grandsoft Limited and Savills acted for Deka Immobilien GmbH.