Henderson Park acquires Ibex House in London

Henderson Park and Dukelease Properties have acquired the Ibex House office building in London for £121.3 million ($154 million).

The seller was Israeli pension fund Harel Insurance & Financial.

Built in 1937, Ibex House is believed to be London’s first serviced-office building. With 85 percent occupancy, the building is still multitenant, with 28 occupiers from a diverse range of sectors and including BBC Media Action, PLP Architecture, CAPITA and Thomas Cooper.

Henderson Park intends to reposition the building through a phased refurbishment program, taking vacant possession of space as it becomes available, with a view to improving and modernizing the facilities and gradually bringing the rental tone in line with comparable properties in the area. Initial works will include the reconfiguration of the ground floor to incorporate the public house and enlarge and modernize the reception area including the introduction of a lounge and café.