ÆRIUM, the pan-European Fund Manager, on behalf of Hanwha Life, the Korean life insurance company, has completed the sale of prime City of London office asset One Wood Street, EC2 to KanAm Grund Group, the Frankfurt based property fund manager.
Designed by renowned architects Fletcher Priest and constructed in 2007 by Land Securities, One Wood Street is a landmark building, occupying a prime position in the core of the City of London.
Totalling 184,150 ft², the property is fully let to international law firm Eversheds Sutherland as its international headquarters for a further nine years.
This is the third acquisition by KanAm Grund Group in the City of London over the last four months.
Robin Carr, Head of UK & Co-Chief Investment Officer at Aerium, said: “Having managed this asset for the past eight years, initially under our own ownership and latterly on behalf of Hanwha Life, we’re intricately aware of its appeal as a unique investment proposition. With our asset management programme now having been successfully executed, we’re handing One Wood Street over to KanAm Grund Group in prime condition and with the benefit of a strong covenant providing long-term stable income, and we look forward to seeing it continue to prosper for years to come.“
CBRE acted on behalf of the vendor.
