Warburg-HIH Invest Real Estate GmbH, Hamburg, has sold the multi-let 100 New Bridge Street in London to private UK based investment group Alduwaliya Asset Management. The purchase was part of a share deal worth approximately €205m.
The property was constructed in 1992 and designed by British architects Renton Howard Wood Levin. The building complements the architectural character of the surrounding Victorian and Edwardian buildings. Located in the heart of London with over approx. 15,600 m² of office space, the building is fully-let, with the majority of the building leased to the global commercial law firm Baker & McKenzie and the rest to well-known retailers and restaurants including Prêt à Manger, Caffè Nero and Boots.
Matthias Brodeßer, head of transaction management international at Warburg-HIH Invest commented: “The disposal of 100 New Bridge Street was part of a cycle-based investment strategy and came at an ideal time in the market. The desirable location of the property, coupled with scarcity of similar products in the market, resulted in a considerable profit and yielded a desirable return.”
Warburg-HIH acquired 100 New Bridge Street in 2010 for approximately €154m.
