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Transactions - DECEMBER 3, 2021

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NPS, LaSalle pay $1.65b for London office

by Andrea Zander

South Korea’s National Pension Service with LaSalle Investment Management has reportedly paid £1.25 billion (€1.46 billion/$1.65 billion) for UBS Group AG’s London headquarters at 5 Broadgate, according to Bloomberg. The seller is CK Asset Holdings.

The property comprises 732,876 square feet of modern, class A office and ancillary accommodation, arranged over 16 floors including two basement levels, mezzanine, and ground and 12 upper floors as well as two additional roof plant levels.

The accommodation includes trading floors at levels two to five, ancillary accommodation at level six and office accommodation from levels seven to 12.

There are additional features throughout, including an auditorium, exhibition area, gym and restaurant traversing the ground and first floors. There is also a terrace on level seven and a six-story atrium and double-height space on levels seven and eight.

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