The Swiss AFIAA Foundation for International Real Estate Investments has acquired a state-of-the-art office building in London’s West End in an asset deal transaction.
The property “12 Golden Square” is located in the submarket Soho was built in 1995/1996 and comprehensively refurbished in 2015. The building offers a total of 27,090 ft² (around 2,500 m²) of lettable area across six upper floors that are currently let to several tenants. The newly acquired office building meets high tenant requirements for Grade-A office space and benefits from its excellent location close to five Underground stations, ensuring superb connections to the London public transport network.
The seller, UBS Triton Property Fund, which was advised by Savills, is a balanced real estate fund focusing on the United Kingdom and primarily designed for institutional investors. The parties have agreed to treat the purchase price as confidential.
“Despite the challenges on the markets, we believe the 2017/2018 financial year will provide good opportunities for us to acquire suitable properties once again. The acquisition of 12 Golden Square represents an outstanding addition to our portfolio and marks another important step in the implementation of our focused growth strategy,” commented Sebastian Feix, Global Head of Transactions at AFIAA.
