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Deka Immobilien has acquired the first-class "Stirling Square" office building in London's West End for the open-ended real estate fund WestInvest InterSelect. The landmark property is located in the exclusive St. James's submarket and offers views of Buckingham Palace. The property was sold by a fund managed by Tristan Capital Partners and Greycoat. The purchase price was not disclosed.
The detached, post-modern building was designed by renowned architect Sir James Stirling and comprises almost 8,700 sqm of lettable space spread over seven floors. The terraces on the upper floors of the property offer a view of Buckingham Palace and the surrounding parks. The property, built in 1999, was renovated in 2016 and 2022 in a contemporary manner and is fully leased to four companies on a long-term basis.
The St. James's submarket is one of the most exclusive and prestigious districts in London, characterized by historic buildings, luxurious shops and first-class restaurants. Piccadilly Circus tube station is a few minutes' walk away.
With this transaction, the fund management of WestInvest InterSelect is taking advantage of the rare opportunity to acquire a detached and fully let top property with rent increase potential in a prime London location. The fund is thus reinvesting its funds generated through inflows and sales and securing a first-class property in the London capital.
