German investor Deka Immobilien has acquired The Cursitor Building, Chancery Lane for £86 mln (€96 mln) from Aberdeen Standard Investments.
The 74,000 ft2 (6,875 m2), nine-storey, freehold building was recently completely refurbished. It is fully let to five tenants including WeWork and offers 17 years of income.
'We are delighted to have advised Deka on their acquisition of The Cursitor Building,' said Iain McConnachie, senior director in the Central London Investment team at CBRE, which advised Deka.
'It represents a best-in-class asset in Midtown and offers exposure to a diverse mix of tenants, which compliments their existing London holdings.'
Due to its proximity to Farringdon station, the building will benefit from access to the Elizabeth Line, when it completes later this year.
CBRE and Savills advised Deka, whilst Knight Frank acted for Aberdeen Standard Investments.