Great Portland Estates has sold a major London office block to Henderson Global Investors for a reported Â£61 million.
Henderson acting on behalf of its German joint venture, Warburg Henderson, agreed to purchase the property known as 90 Queen Street.
The building offers 68,348 sq ft of London office space and is currently fully let, with Italian banking group, Intesa Sanpaolo, taking up the vast majority of the offices. It is also home to two retail tenants.
Great Portland Estate originally purchased the office block in 2009 for Â£45.8m.
Henderson fund manager, Martin Payne, said: “We have acquired a strong asset with good income potential from a strong covenant paired with a prime City of London location.
“It offers optimum conditions for stability which will now allow us the opportunity to diversify the portfolio further with future acquisitions. We will now be widening our net in search of quality well-let assets elsewhere in the UK.”
Based in London, Henderson is a leading independent global asset management firm.
It has a range of offices across EuropeÂ including Madrid, Vienna, Zurich, Amsterdam, Paris, Milan,and Frankfurt. It has other global offices including its US offices in Chicago and Hartford, a number of offices in Asia, including its main Asian base in Singapore, as well as Hong Kong,Â Tokyo and also an office in Sydney, Australia.
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