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Barings has sold Nexus Place at 25 Farringdon Street, London, to Brookfield for £169.4 million. The firm acquired the building in 2013 and has since carried out several significant value-add initiatives and refurbishments.
The space now offers 159,840 square feet of Grade A office space with additional retail space and is currently fully let to eight tenants.
According to Barings’ head of UK real estate transactions Darren Hutchinson, “Nexus Place is an example of our ability to create value by implementing a number of asset management initiatives and deliver a strong return for our clients… With our business plan now complete we are looking to recycle the capital into alternative strategies.”
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.