IVG sells 200-206 Regent Street, London for £50m to The Regent Street Partnership
Bonn, 26.01.2012
- With the sale of the property “Jaeger House” IVG achieves an excellent result for its investors and proves its local market expertise and the advantage of a well functioning local network
The property 200-206 Regent Street which was acquired for circa £40m in 2010 comprises 4,500 m² (48,000 ft²), including 2,700 m² (29,000 ft²) of retail space as well as 1,800 m² (19,000 ft²) of office space. Main tenant is the primarily UK-based fashion retailer Jaeger.
After a holding period of less than one and a half years the building was sold for £50m. The yield on equity for IVG’s investors is significantly in the double-digits range. The buyer is The Regent Street Partnership a joint venture between The Crown Estate and Norges Bank Investment Management.
Ali Abbas, Head of UK Transactions at IVG commented; “the quick sale was primarily based on the very good working relationship between IVG and The Crown Estate and in particular, their strategic approach towards Regent Street to realign and secure this area as one of the first class destinations of retail and office space”.
IVG Immobilien AG
IVG Immobilien AG is one of the major real estate companies in Europe. The company manages assets worth approx. €22 billion and is located with approx. 590 employees in 19 selected major German and European cities. Via this network of local branches, IVG manages inter alia on balance properties with a market value of €4.1 billion. In northern Germany IVG constructs and operates underground storage caverns for oil and gas. In the fund segment IVG is the leading provider of tailored property funds for institutional investors. In combination with the closed-end funds for private investors, IVG manages funds and mandates amounting to a volume of €15.2 billion.
Press Contact
Martin Praum
Tel.: +49 (0)228 / 844-300
Fax: +49 (0)228 / 844-372
E-mail: martin.praum@ivg.de
