CBRE Global Investors fund acquires London office

CBRE Global Investors’ value-add series, Europe Value Partners 2 (EVP 2), has acquired 280 Bishopsgate, London. The acquisition was made in a partnership with Arax Properties.

The building was sold with vacant possession, providing an opportunity to carry out an immediate repositioning in the established core of the City of London during a period of limited supply. The building will be comprehensively refurbished to provide class A offices extending to approximately 280,000 square feet including new rooftop terracing and balconies overlooking Spitalfields, to be completed in 2021.

280 Bishopsgate is a prime office arranged over basement, lower ground, ground and 12 upper floors. The location attracts a diverse range of tenants from the financial, professional, media and technology sectors. It benefits from excellent transport links to the underground, national rail and Crossrail, opening next year.

“This value-added opportunity is in line with EVP 2’s key