Henderson Park has acquired Athene Place at 66 Shoe Lane in London from Commerz Real, a subsidiary of German Commerzbank. The transaction was financed with senior debt provided by Blackstone Real Estate Debt Strategies. The purchase price has not been disclosed.
Athene Place is a 147,000 ft² office building in a prime location within Midtown, London, directly opposite the main entrance to Goldman Sachs’ new European headquarters, and adjacent to Deloitte’s UK Campus in New Street Square. Advantageously located on the Central, District, and Circle London Underground lines, as well as City Thameslink mainline railway, the asset will also have access to the Elizabeth line, which is due to open later this year, connecting it to Heathrow, Gatwick and Luton airports.
The investment will capitalise on the strong demand from occupiers looking to locate in this sub-market of London. Midtown has a low vacancy rate of below 4% as the area continues to attract a diverse group of occupiers, including those operating in the professional services and TMT sectors, due to its close proximity to the City of London and the West End.
The deal marks Henderson Park’s eleventh investment and its first in the London office market. Athene Place joins a portfolio of hospitality, multifamily, and office assets in London and other Western European capital cities.
Nick Weber, Founding Partner of Henderson Park, said: “Athene Place is an exceptional building which has already begun to attract interest from tenants and which we believe has huge potential in one of London’s fastest-moving and best-connected sub-markets. This investment underscores our firm belief in the demand for institutional quality Central London office space, driven by London’s preeminent position as a centre for international business. We are excited to partner with Endurance Land and work to deliver a high-quality asset for this part of the City.”