LaSalle buys 60 London Wall

Posted on 29 June, 2015 by Neil Bird

LaSalle Investment Management has purchased the freehold interest in 60 London Wall on behalf of an overseas client. The confirmation of the acquisition comes in a joint statement from LaSalle and the vendor Deutsche Fonds Holding AG.

LaSalle-buys-60-London-Wall

The global real estate investment manager paid £197.5 million for the prime City office and retail asset which provides 261,748 sq ft of office, retail and ancillary space which is fully let.

It is currently occupied by Dutch banking and financial services corporation ING at a passing rent of £42.94 per sq ft, although the company is due to relocate to 8-10 Moorgate when its lease expires in September of next year.

The property, constructed in 1991, is located at the heart of London’s banking quarter within a five minute walk of Moorgate, Liverpool Street and Bank Stations, which together provide connections to six underground lines and the DLR.

The location’s connectivity will be further enhanced by the arrival of Crossrail in 2018, with the new ticket hall situated just 150 metres from 60 London Wall, and the Liverpool Street and Moorgate interchanges providing rapid links to Heathrow and Canary Wharf.

Deutsche Fonds Holding AG

Gary Moore, of La Salle, said: “The acquisition is in line with our strategy of importing international capital to London through strategic partnership vehicles. We are looking to identify long-term investment opportunities in areas of strong occupier demand.”

LaSalle was advised by Everton Phillips. Deutsche Fonds Holding was advised by JLL and CBRE.




Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.


Recent Posts

Interest Rates Impact on Commercial Property

Commercial Property Investment Outlook for 2023

The best places to stay on the Riviera

The latest property data has identified Newquay as the fastest property seller’s market in the UK

Investing in your garden can increase your property’s value

French Riviera temping high-end homebuyers

How can the ownership rights of my commercial property impact a business sale?

Should I incorporate virtual property viewings permanently?

Investment expected to increase across Asia-Pacific in 2021

UK property industry slows as the conclusion of tax break looms

BNP Paribas cautioned investors on Friday as debt-trading bonanza that increased its earnings this past year

Over 300,000 property purchases fell through in 2020 – we show the most frequent motives and the best way to get your house sale back on track

House Prices in the Capital Surpass £500,000

Optimism from the Bank of England’s chief economist

The most expensive commercial properties.

Businesses operating from shared premises will miss out on grants