Ivanhoé Cambridge has completed its third City of London acquisition in the past six months, following the announcement that it has paid an undisclosed seller around £130 million for 21 Lombard Street.
21 Lombard Street is a prestigious building just a minute’s walk from Bank tube station, and in close proximity to Cannon Street, Fenchurch Street and Liverpool Street stations.
It was completed to a high specification in 2000 and provides 116,000 sq ft of Grade A office space complete with basement showers and storage. It is leased in its entirety to a leading international bank.
Meka Brunel, Executive Vice president, Europe at Ivanhoé Cambridge said: “We are very proud of this acquisition, our third office property in the City of London in less than six months.”
In March, Ivanhoé Cambridge paid over £170 million for the landmark 3 Minster Court and, late last year, the company acquired Stonecutter Court from real estate investment trust Hines Global in a £112 million deal.
And Brunel made it clear that the subsidiary of the Canadian pension fund Caisse de dépôt et placement du Québec has further plans for investment in the capital: “We remain focussed on a clear investment strategy of building a critical mass of quality office assets in London, alongside our partner Greycoat,” he said.
Ivanhoé Cambridge holds assets in Canada, the United States, Brazil, Mexico, Asia and Europe valued at $42 billion. Its portfolio consists largely of shopping centres, offices and multi-residential properties.
