IVG acquires office property in London for €154 million (DE/UK)

IVG ImmobilienFonds GmbH has acquired the office property 'Riverside House' from a group of international investors for €154 million. Private investors can participate in the high-profile centrally located property with the next IVG property fund 'EuroSelect 09'. Selling will begin in March.

Riverside House, which was completely renovated in 2002, has14 floors, 15,000 m² of office space and 800 m² of restaurant and retail space. Until 2018 at least, the tenant of the office space is Financial Times Ltd., one of the world´s leading companies in the media and information sector.

The building is located directly adjacent to the Thames on the South Bank. This prospering area lies close to the financial district and offers an attractive transport infrastructure with connections to five tube lines and four stations on the local train network. In addition to branches of Price Waterhouse Coopers, Citigroup, HSBC and Lloyds TSB, cultural attractions such as the Tate Modern Gallery, the Saatchi Gallery and the Globe Theatre can also be found in the immediate vicinity.

In the Riverside House property, IVG´s fund company has secured its third London property in 18 months. IVG acquired the corporate headquarters of the EMI Group in Hammersmith for the fully placed EuroSelect 07, and One Neathouse Place in the West End for EuroSelect 08, units in which are currently being sold. To date, 90% of EuroSelect 08 units have already been placed. EuroSelect property funds allow investors to participate in high-quality European real estate, which is managed locally by IVG branch offices.

Source: IVG Immobilien

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