- 1 Minute Read
- 20th April 2012
German company makes recent purchase of One Southampton Row, London
German real estate firm Deka-ImmobilienEuropa has recently purchased One Southampton Row from redeveloper Gransoft Ltd for £110 million. The property is currently occupied by seven retail tenants and three office tenants and the selling price reflects a net yield of almost 5.25%.
Deka-ImmobilienEuropa is the third German fund advised by Savills in the last couple of weeks to complete such a deal. This particular exchange is the company’s second off-market London office space purchase in recent weeks, having recently bought the Guardian Media Group’s King’s Cross office space for £235 million.
One Southampton Row was initially designed by architecture firm Sheppard Robson and was finished in June 2009, situated above roughly 20,650 square feet of retail office space in High Holborn. Today, tenants include Carpmaels & Ransford, Sodexo and Metro Bank who pay an average rent of £46.50 per square foot.
Deka-ImmobilienEuropa is not the only German company to have made recent purchases. A variety of German investors are rumoured to have spent £165m on the purchase of Stratton House on Stratton Street, London.
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