The property has a lettable area of just over 9,000 sq. m and is rented mainly to insurance companies and consulting companies with a remaining average term of nine years. The investment amounts to £75 million and has rents of £4.4 million.
This is Balder’s first acquisition in London, which has been a market it has been following for some time. The acquisition is a natural step for Balder in the diversification of the property portfolio that it has carried out in recent years. It hopes to find further investments in London in the future.
Balder is working with Brunswick Real Estate UK (now Brunswick Property Partners) as local operating partner.