IVG Immobilien AG is buying a 6,000 m² office property in the London banking district, City, from a German public real estate fund for over €75 million. The six-story building at 55 Moorgate was completed in 1990 and is fully let. The leases run until 2015/2016. The main tenant is BNP Paribas UK Holding Ltd., which uses over 83% of the lease space with 5,000 m².
City continues to be in high demand due to the favourable business location for the financial sector. With the acquisition of 55 Moorgate, the Bonn-based real estate company is expanding its position on the London office market.