DTZ Investors purchase 47 Mark Lane London for £73.3m
DTZ Investors today announced it has purchased the freehold interest of 47 Mark Lane, London for £73.3m from Land Securities.
The acquisition marks DTZ Investors’ largest purchase to date, reducing the outstanding client capital for allocation to direct property to £280million. Full investment of the outstanding client capital will take AUM to £4.5 billion.
47 Mark Lane is a high quality, multi-let office and retail asset in the city, comprising 105,000 sq ft of refurbished office space arranged over 1st-6th floors, and ground floor retail accommodation. Tenants include AXA Insurance, IBM UK Ltd, Pizza Express, Pret, Eat and Starbucks.
Fund Manager Kevin O’Connor, DTZ Investors, says: “47 Mark Lane is exactly the type of asset that DTZ Investors is looking for. The site offers a mixed-use, multi-let income and it is located in a strong growth area, which is only going to get stronger with time.”
Strutt & Parker advised DTZ Investors on the purchase and Capital Real Estate Partners LLP acted for the vendor, Land Securities.
Contact: Kevin O’Connor