INDUSTRY NEWS

Invesco on verge of sealing deal for offices in London

Independent investment management firm Invesco is on the verge of completing  the purchase of Deutsche Bank’s main offices in London.

A source with information on the deal told Reuters that a deal for the building, worth £250 million, was nearing completion. The building is located in London’s financial district, on the corner of London Wall and Old Broad Street.

It is currently owned by open-ended fund, KanAm – which has plans in place to liquidate by 2016, according to Reuters. KanAm has sold off two of its London office buildings to Malaysian investment fund Permodalan Nasional Berhad.

One of the offices housed Olswang, whilst the other was occupied by the European Bank for Reconstruction.

If the Deutsche Bank building deal is completed, KanAm will be left with just one London asset – Canary Wharf office space occupied by Thomson Reuters.

Invesco, according to Reuters, were not available to comment on the deal, whilst KanAm declined to comment.

News bought to you from DeVono Cresa, the award-winning commercial property advisers, specialising in Central London office, retail and leisure space.