Real estate investment management firm Tristan Capital Partners have purchased a new South East London office for £34m.
The EPISO3 fund (European Property Investors Special Opportunities 3) acquired the 124,000 sq. ft office space located at Mitre Passage in a joint venture with Lend Lease and Quintain Estates & Development.
The office space, which was completed in 2009, is listed as a Grade A building with top sustainability and a BREEAM Excellent rating.
Companies that already occupy space in the building – located near the O2 and Greenwich Peninsula – include London Borough of Greenwich, HUAWEI and Knight Dragon. Currenct tenancies occupy about half the space available.
Tristan Capital Partners managing director of investments, Peter Mather, said ‘the financial crisis stifled the development pipeline of Grade A space in London, leaving cost-conscious tenants with space requirements looking to emerging sub-markets with excellent transport links to the rest of London,’ continuing that, ‘in keeping with the strategy of the Episo3 fund, this investment presents us with an opportunity to lease up a Grade A office building at very competitive rental levels at a time when space of this quality is in short supply.’
Tristan have also purchased another grade A office building this month in Stratford for £70m.
By: Kirsty MacGregor
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