SEB Asset Management has added a building located in London's financial district to its open-ended real estate fund: SEB ImmoPortfolio Target Return Fund. The property is rated Grade A and is fully let. The seller Wellcome Trust, a British charity finances biomedical research projects. The total investment costs are approximately 39.7 million.
The property is located at 1 Threadneedle Street which is one of the top addresses in the City of London. It is immediately adjacent to the Bank of England and the Royal Exchange. The underground stations Bank and Liverpool Street can be reached on foot.
The building was completed in 1992 and has a total rental space of 4,991 m², of which 4,537 m² of office space is let to the chambers of Halliwells LLP until February 2014. The remaining 454 m² have been let to the travel agency Trailfinders Ltd. Its rental agreement expires at the end of 2017.