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A subsidiary of Asian Growth Properties Ltd acquired 20 Moorgate in London’s Square Mile for about £154M.
The AGP Group funded the acquisition from existing cash resources and a new five-year term loan of approximately £100M from HSBC, according to Europe Real Estate.
The property is fully let to two tenants under long-term lease agreements. The office accommodation is occupied by the Prudential Regulatory Authority (a regulatory body of the Bank of England) until 30 June 2027 and the sole retail unit is let to Fuller, Smith & Turner Plc until 24 December 2039. The seller was PFM EuroSelect Elf GmbH & Co KG and Lapis Grundstucksverwaltungs-GmbH. [ERE]
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