Aviva Investors has completed a joint investment with Obayashi Corp., one of Japan’s leading construction groups, to acquire the remaining 50 percent in 20 Gracechurch Street, London EC3.
The deal brings both the freehold and leasehold for the 16-story property under the full ownership and control of Aviva Investors and Obayashi, as part of a joint-venture partnership between the two firms that will focus on commercial-property investments in central London. It is the third investment made by Obayashi in London, with the firm building on its established portfolio of Japanese office assets.
As part of the agreement between the two firms, Aviva Investors also will be responsible for asset management of one of London’s most characteristic postmodern buildings, which spans 270,000 square feet of office space and 43,000 square feet of retail space.
