UK's Savills acquires office building in central London for $334.7 mln

UK-based Savills Investment Management (Savills IM),  the real estate investment management arm of real estate developer Savills plc, has closed on the acquisition of 125 Shaftesbury Avenue for 267 million pounds ($334.7 million).

The building, bought from Almacantar Ltd, a UK-based real estate unit of Luxembourg-based property investment and development company Almacantar, consists of 190,000 square feet of office, retail and ancillary space over 11 floors..

The acquisition of 125 Shaftesbury Avenue, located in central London’s Soho district, was completed by Savills on behalf of Korean institutional investors managed by investment company Vestas Investment Management.

In the first quarter of 2019, Savills IM and Vestas will launch a new fund for Korean Institutional Investors to acquire European logistics and office properties.