London & Oriental invest in City office building

Bank of Ireland offices on Queen Street acquired for £17m

Article posted: 01 Apr 2011

Property asset manager, London & Oriental, has acquired the City of London offices of Bank of Ireland for around £17m.

The property at 36 Queen Street comprises 42,000 sq ft of office space in EC4 and is fully let to the Bank until the end of this year at an annual rent of £1.9m

L&O purchased the building, which was built in 1988, CBRE Investors, who were advised on the deal by CB Richard Ellis.

The firm is currently actively seeking various property investment opportunities, specifically multi-let offices in the UK’s top ten regional cities with active management or rental growth prospects, and London office refurbishments of 1960’s or 70’s buildings providing office space in the West End or City of London.

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Posted by Jo