Deka Immobilien has acquired a high quality, very centrally located office building in London for around GBP 220 million. The property was sold by Golden Sense International Holdings Ltd. and will be added to the portfolio of the open-ended real estate fund Deka-ImmobilienEuropa.
The "8 St James's Square" office building was completed in 2015 and offers around 5,850 m² of leasable space and six parking spaces. It is fully occupied by five long-term tenants, including the multinational banking and financial services company Société Générale as main tenant. The property is located directly on St James's Square in the heart of the West End of London and has excellent infrastructure. It was designed by the British architect Eric Parry and received the RIBA National Award and RIBA London Award in 2016 for the quality of its design. It has also received British BREEAM "Excellent" certification for sustainable construction.
The purchase allows a first-class property in a prime location to be secured for Deka-ImmobilienEuropa.
DekaBank is the Wertpapierhaus (securities services provider) of the German Savings Banks Finance Group. Together with its subsidiaries it forms Deka Group, which has total customer assets of around EUR 340 billion (as at 31/12/2020) and more than 5 million securities accounts, making it one of the largest securities services providers and real estate asset managers in Germany. It provides retail and institutional clients access to a wide range of investment products and services. DekaBank is firmly anchored in the Sparkassen-Finanzgruppe and designs its portfolio of products and services to meet the requirements of its shareholders and sales partners in the securities business.
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 43 billion in real estate assets (as at 31/12/2020).