Mitsubishi Estate Company (MEC) has bought 150 Leadenhall Street, EC3, London, the UK headquarters of fellow Japanese company Tokio Marine.
Tokio Marine and Deutsche Bank's leases on the 56,000-ft² (approx. 5,200-m²) office building in the heart of the City expire next year offering MEC the opportunity for a short-term refurbishment or a longer term redevelopment of the building.
MEC's new UK Managing Director, Hiroyuki Arimura, said: "This building is particularly attractive to MEC because of its excellent location. This acquisition underlines our commitment to London and the UK market and follows on from the success of our Paternoster Square and Central Saint Giles redevelopments in the City and West End respectively."
Cushman & Wakefield advised MEC and CBRE acted for Tokio Marine.
Source: MJ2 Limited