Barings acquires €153m London office 

Barings has acquired a class A office building in the City of London from a German retail real estate fund managed by global real estate manager DWS for £130.5 million (€153 million/$181 million) on behalf of a core investment strategy.

Capital House is a high-quality stone-clad building, originally constructed in 2003 by Sir Robert McAlpine, comprising 126,000 square feet of office, retail and ancillary space over basement, lower ground, ground and eight upper floors. The property is currently 55 percent leased to six tenants, including Sainsbury’s and Pret A Manger.

Barings will undertake a comprehensive program of active asset management to reposition the building into a best-in-class office in the core of the City of London, with strong sustainability credentials. Plans include the refurbishment of three vacant office floors, enlarging and renewing the reception area to provide tenant amenities, as well installing additional showers and bike storage and overha