Commercial Property News

Hermes Real estate has purchased a London commercial property asset for £58 million, it has been revealed.

The company bought Wimbledon Bridge House from a subsidiary of European Property Investors Special Opportunities (EPISO).

Ric Lewis, chief executive officer of Tristan Capital Partners - which manages and advises the EPISO fund portfolio - explained the body will continue to look for UK investments.

"The UK market, which has seen the fastest re-pricing in the recent downturn of any major European real estate market, is now benefiting from strong institutional investor interest, particularly in core assets," he stated.

Included in the £58 million business property development are four retail units, a car park and 168,000 sq ft of office space.

Hermes Real Estate is owned by the BT Pension scheme, which is the largest in the UK.

Its latest purchase is situated opposite Wimbledon rail and underground station, with four retailers and six office tenants currently occupying the building.

Posted by James Collins