German property investor group Deka Immobilien acquired the entity that owns Cannon Place for £485M in an off-market deal.
The Square Mile property was developed by Hines in partnership with Network Rail and London Underground and boasts excellent transport links. It was completed in 2011 and provides 418K SF of Grade A office and retail accommodation over two basements, ground and eight upper floors. Cannon Place has a rich mix of tenants, including CMS Cameron McKenna, Threadneedle Asset Management, Franklin Templeton, i2 Offices, the CBI and BLME.
Savills represented Deka on the acquisition. CBRE represented the seller.
