This prime asset, located in London’s City, comprises 195,000 square feet of office and retail accommodation. It was redeveloped in 2008 to provide full specification offices around a full height atrium behind listed façades.
The property is occupied by high profile City tenants including Bloomberg, Cisco Systems, City Index and Brown Brothers Harriman and provides an average lease term of over seven years.
James Petit, Head of UK for RREEF Real Estate, said of the transaction, "Park House is a high quality asset that we were excited to acquire for our clients. The team's broad experience enabled us to close the transaction in just four weeks."
RREEF Real Estate has acquired over £1 billion of property in the UK over the past five years, and over £450 million in 2011 on behalf of its clients around the world.
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