Deka Immobilien acquires the Cursitor Building for £86 million

Deka Immobilien has purchased the 74,000 sq ft Cursitor Building from Aberdeen Standard Investments for the impressive sum of £86 million.

After a complete refurbishment, including re-cladding and replacing two floors with roof terraces, the building — which is ideally located on Chancery Lane in the City of London — has a Wired Platinum score and is now fully let to five prestigious tenants, including office giant WeWork, which took up 49,212 sq ft of space across five floors on a 20-year lease at a rent of £63.50 per sq ft in 2017.

CBRE and Savills advised Deka, and Knight Frank acted for Aberdeen Standard Investments.

Senior director of the Central London investment team at CBRE, Iain McConnachie, says: “We are delighted to have advised Deka on their acquisition of The Cursitor Building. It represents a best in class asset in Midtown and offers exposure to a diverse mix of tenants, which compliments their existing London holdings.”

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.