CBRE GI completes £265m Holborn buy
17 Feb 2021 | by James Buckley
Deka sells Hogan Lovells’ London HQ
Hogan Lovells is testing the London market
- What Deka Immobilien sells Atlantic House to CBRE GI
- Why GI said the deal provided an opportunity over the medium term to create a “best in class office building in a top-quality location”
- What next the building is let in its entirety to Hogan Lovells for a further six years
CBRE Global Investors has completed its £265m purchase of Atlantic House at 45-51 Holborn Viaduct, EC1 on behalf of a pan-European Fund.
Deka Immobilien sold the 256,900 sq ft office building, which is let in its entirety to Hogan Lovells for a further six years.
Deka originally bought the long leasehold interest in 2004 and subsequently acquired the freehold interest in 2009.
“Atlantic House offers the opportunity over the medium term to create a best in class office building in a top-quality location. Its acquisition underlines our belief that the best office assets will continue to be in demand from both an occupier and investor perspective,” said Richard Dean, head of UK real estate execution, CBRE Global Investors.
John Heaver, director in strategic investment advisory at Savills, added: “Atlantic House is a fantastic example of Deka’s long term investment strategy to selectively acquire high quality core real estate in gateway cities, drive performance and exit opportunely.”
CBRE Global Investors was advised by TT&G and Linklaters. Deka was jointly advised by Savills and Simmons & Simmons.