Aviva Investors, the global asset management business of Aviva plc (‘Aviva’), announces that it has completed a joint investment with Obayashi Corporation (‘Obayashi’), one of Japan’s leading construction groups, to acquire the remaining 50 per cent share in 20 Gracechurch Street, London EC3.
The deal brings both the freehold and leasehold for the 16-storey property under the full ownership and control of Aviva Investors and Obayashi, as part of a joint venture partnership between the two firms which will focus on commercial property investments in central London. It is the third investment made by Obayashi in London, with the firm building on its established portfolio of Japanese office assets.
As part of the agreement between the two firms, Aviva Investors will also be responsible for asset management of one of London’s most characteristic postmodern buildings, which spans 270,000 sq ft and 43,000 sq ft of office and retail space respectively.
Source : Aviva Investors