INDUSTRY NEWS

Deka takes Moorhouse offices for £230m

Deka Immobilien Investment has bought Moorhouse central London offices for £230 million, it has been reported.

The German investment fund made the purchase from Hammerson and Pearl Insurance, which own a 67 per cent and 33 per cent stake in the building respectively.

“This transaction demonstrates that there is continuing interest from investors for high quality assets in the City of London,” said Hammerson’s chief executive, John Richards.

The building, at 120 London Wall features 300,000 sq ft of office space and was the first designed with a shaft to the London Crossrail service.

It has the deepest foundations in London and was built to withstand further tunneling work, should it go ahead.

Its sale is positive news for Hammerson and further evidence of overseas interest in the capital’s commercial property market.
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