Invesco bags Midtown office
Invesco has acquired a freehold interest in St Bride’s House, an office in London’s Midtown previously owned by asset manager DWS.
The £22.9m deal for the office located at 10 Salisbury Square, EC4, will be a welcome addition for the Midtown market, which saw muted activity on both the investment and the leasing front at times last year.
According to research by Farebrother, investment there dropped by 52% between Q2 and Q3 last year to £107.9m across eight deals.
Invesco has acquired a freehold interest in St Bride’s House, an office in London’s Midtown previously owned by asset manager DWS.
The £22.9m deal for the office located at 10 Salisbury Square, EC4, will be a welcome addition for the Midtown market, which saw muted activity on both the investment and the leasing front at times last year.
According to research by Farebrother, investment there dropped by 52% between Q2 and Q3 last year to £107.9m across eight deals.
In leasing, take-up hit its lowest level for three years during Q3, though Farebrother noted that there was more than 1m sq ft under offer at the time.
Under the ownership of DWS, the 50,869 sq ft office was refurbished in a project designed by architect DLA, adding an extra 3,068 sq ft of office space.
RX London advised DWS on the sale.
