AEW Europe invests in London office


Real estate management experts, AEW Europe, have acquired a refurbished London office space close to Monument station. It is located on Martin Lane, and was set up on behalf of the company’s Europe Value Investors (EVI) Fund.

The office space was sold for approximately £24m by Trinova – they sold it on behalf of an investor. The building currently houses several businesses, such as Business Wire, The Law Society, and WH Ireland.

This is the very first asset obtained in the UK by the Fund and will bring the total value of their seven assets up to £220m. AEW Europe will soon re-negotiate the current leases, but still aim to retain a mixture of tenants who have a high covenant strength.

Portfolio manager for AEW Europe Value Investors, Carsten Czarnetzki, stated: “Our first UK acquisition for EVI represents exactly the kind of asset we are targeting for the Fund”, adding that it, “has a protected downside through to a diversified income stream and considerable reversionary upside over the medium term, owing to the solid market fundamentals in the City of London”.

The AEW EVI Fund is currently aiming for an investment of €700m having already reached €240m, with a focus on office assets located in France, Germany and the UK.

By: Kirsty MacGregor

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