Friday, 22 May 2015
WELPUT makes first City of London acquisition with Bury House purchase (UK)
West End of London Property Unit Trust (WELPUT) has purchased the freehold of Bury House, 31 Bury Street EC3, from Aberdeen Asset Management for £22.9 mln (€32.1 mln). WELPUT is managed by Schroder Real Estate and advised by Quintain Estates and Development plc.
The purchase marks WELPUT’s first acquisition in the City of London. Following its modernisation in 2014, WELPUT expanded its investible area outside of its core West End market, across the whole of central London.
Located on the corner of Bury Street and Creechurch Lane, the 27,000 ft² (2.508 m²) Grade A building occupies a prominent site within the City’s traditional insurance and shipping district.
Strutt & Parker acted on behalf of WELPUT; GM Real Estate advised Aberdeen Asset Management.
Source: FTI Consulting