Press Release
Deka Immobilien invests in the West End of London
Frankfurt – 18.11.2020
Deka Immobilien has acquired a mixed-use building complex in London for GBP 177 million. The listed real estate and investment company British Land is the seller. The complex will be added to the portfolio of the open-ended real estate fund WestInvest InterSelect.
"Clarges Mayfair" consists of a high quality office property with a restaurant and two neighbouring retail units. The complex was finished in 2016 and provides more than 6,000 m² of leasable space and five parking spaces. Around 5,000 m² of this is office space that is leased to four companies under long-term leases. The main tenant is the investment company Capula Investment Services Ltd. "Clarges Mayfair" has a prominent location in the desirable Mayfair district of the London West End, directly neighbouring Green Park and in the immediate vicinity of Buckingham Palace. The property has received British BREEAM "Excellent" certification for sustainable construction.
This investment allows fund management of WestInvest InterSelect to secure the rare opportunity of acquiring a top property in an outstanding location. Including "Clarges Mayfair", the fund portfolio now contains four properties in London.
About Deka
DekaBank is the securities services provider of the German Savings Banks Finance Group (Sparkassen-Finanzgruppe). Together with its subsidiaries it forms Deka Group. With total customer assets of more than EUR 395 billion (as at 31/12/2021) and more than 5.2 million securities accounts, DekaBank is one of the largest securities services providers and real estate asset managers in Germany. DekaBank is a wholly owned subsidiary of the German Sparkasse savings banks and forms an integral part of the Sparkassen-Finanzgruppe.
The Deka Group’s global real estate expertise is pooled in its Real Estate Division. The management companies, Deka Immobilien Investment GmbH and WestInvest Gesellschaft für Investmentfonds mbH provide management and support for around EUR 47 billion in real estate assets (as at 31/12/2021).
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