TRINOVA ACQUIRES 160 BOROUGH HIGH STREET FROM W REAL ESTATE ON BEHALF OF STENA REALTY

Investment and asset manager Trinova Real Estate, on behalf of Amsterdam based Stena Realty, has completed the acquisition of 160 Borough High Street, London, from W Real Estate for a net initial yield of 6.45%. The building is held long leasehold from the City of London and is fully occupied by four tenants.

 

Situated just south of London Bridge and Borough Market in London, the property has been extensively refurbished by London-based developer and asset manager W Real Estate, providing 16,284 sq ft of high quality office accommodation over lower ground, ground and four upper floors.

 

Edmund Costello, Partner at Trinova Real Estate commented:

 

“We are delighted to have acquired 160 Borough High Street on behalf of our partner Stena Realty. The building has been fully refurbished to provide high quality, contemporary workspace sought after by modern occupiers. The ongoing improvements to the Southbank area are transforming the neighbourhood and we expect this to continue to attract businesses to the area over the next 5-10 years, reflecting the long term investment strategy for this asset.”

 

Ronald Visscher, Managing Director of Stena Realty commented:

 

“After our various initial investments in the City from 2011 onwards, we are delighted to have added this niche product which will build our portfolio. The quality refurbishment has created a modern, future proof asset in an upcoming office area around The Shard. We believe this is a growth market with potential. 160 Borough High Street therefore is a strong addition to our portfolio of assets in the more conventional core EC3 market.”

 

Simon Leathem, Asset Manager at W Real Estate, commented:

 

“It has been a privilege to be able to contribute to the ongoing transformation of the Southbank area with 160 Borough High Street. Through our extensive back to frame refurbishment, we have added significant value to this building, creating an asset with long term income potential in an area undergoing significant change.”

 

W Real Estate was advised by Cushman & Wakefield.

 

https://www.property-magazine.eu/stena-realty-acquires-160-borough-high-street-from-w-real-estate-49945.html