Leading Australian integrated real estate group Lendlease has announced that two major Japanese firms - Sotetsu Urban Creates and Yasuda Real Estate - have acquired a 20% stake in 21 Moorfields is a new premium-grade and sustainable office asset in London.
Built directly above the Moorgate Underground Station interchange with the Elizabeth Line, in central London, 21 Moorfields is a new premium-grade and sustainable office asset fully let to Deutsche Bank AG (DB) on a 25-year lease.
Now home to 5,000 DB employees, the building has achieved leading sustainability ratings, including BREEAM (Building Research Establishment Environmental Assessment Method) Outstanding and LEED (Leadership in Energy and Environmental Design) v3 Gold and was acquired by Lendlease alongside a club of institutional investors.
The transaction is in line with Lendlease’s strategy to recycle and redeploy investment capital to fund future growth; and introduces two new strategic partners to its international Investment Management platform.
Under the terms, Lendlease will retain a five per cent interest in the investment partnership and continue as the investment and asset manager.
The transaction reinforces the continuing global appetite for “next-generation” workspace in London - highly connected, amenity-rich, and environmentally conscious - positioning 21 Moorfields as a valuable asset at the heart of London’s business landscape.
Justin Gabbani, CEO Investment Management Lendlease, said: "This transaction sees Lendlease introduce new capital partners to the UK market, and highlights the continued appeal of high-quality, well located and sustainable office buildings. It also builds on our network of global partners as we increase scale across our international Investment Management platform."
Makoto Sato, the President and Representative Director for Sotetsu Urban Creates, said: "Sotetsu Group is actively expanding overseas, and this investment has enabled it to broaden its business area. We are excited to partner with Lendlease via 21 Moorfields, with its central location, sustainability credentials and secure income stream."
Hiroyuki Mori, Executive Vice President and Representative Director for Yasuda Real Estate, said: "This marks a significant step for Yasuda as we enter the UK market. The combination of resilient returns, strategic location, and trusted partners makes this an excellent long-term investment aligned with our global strategy."
UK Minister for Investment Baroness Gustafsson said: "Major investment in our real estate market like this is central to getting Britain building again and shows our Plan for Change is working."
"With professional business services identified as a key growth sector in our upcoming Industrial Strategy, we're helping to attract and secure investment, and delivering long-term, stable growth that works for businesses and workers across the UK," he added.-TradeArabia News Service
