Real IS takes 80,000 sq ft of West End office space

Asset management firm, Real IS has taken office space in the West End in a multi-million deal that will secure them a number of further deals with high-profile and national clients.

Real IS have taken 80,000 sq ft of office space in 21 Bloomsbury Street, West End, for a deal costing £52 million.

The firm acts as the asset management arm for BayernLB commercial real estate division and will inherit the Secretary of State for Transport, Local Government and the Regions as a tenant until 2022. The Secretary also has the option to renew the lease term for another 15 years at its expiry in 2022.

The deal was secured with a joint venture of developers and London space owners, Canary Wharf Group and the Association of Real Estate Funds – an undisclosed amount was also contributed by international real estate loans company, Eurohypo AG.

Spokesman for Real IS, Andreas Heibrock, said, “We are pursuing the fund’s underlying strategy by selecting a property in a prime location and a tenant with an excellent credit standing.”

Real IS will only consider 100% ownership and have set a minimum investment size of approximately £25 million per individual property. With this, the firm are also keen to secure properties which contain highly-regarded tenants.

Author: Amy Edwards | | 0 Comments

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