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Deka pays €257m for office building in London’s St James’s

Frankfurt-headquartered Deka Immobilien has paid around £220 million (€257 million) for a building in London’s St James’s Square.

The property, which was sold by Hong Kong-based Golden Sense International Holdings, will be added to the Deka-ImmobilienEuropa portfolio, an open-ended real estate fund.

The asset at 8 St James’s Square, was completed in 2015 and provides about 5,850 sq m of leasable space and six parking spaces.

It is fully occupied by five long-term tenants including main tenant Société Générale. The property is located directly on St James’s Square in the heart of the West End of London and has excellent infrastructure.

The building was designed by the British architect Eric Parry and received the RIBA National Award and RIBA London Award in 2016 for the quality of its design. It has also received British BREEAM “Excellent” certification for sustainable construction.