Suntec REIT acquires The Minster Building in London for €415m

Singapore-listed Suntec Real Estate Investment Trust (Suntec REIT) has completed the acquisition of The Minster Building in London’s central business district. The purchase price was €415 million ($490 million). The Minster Building transaction follows the acquisition in December 2020 of a 50 percent stake in the landmark Nova Estate in Victoria, London by Suntec REIT.

The Minster Building comprises an 11-story class A office development with ancillary retail units, totaling more than 293,000 square feet of net lettable area. The building was refurbished in 2018 and was awarded a BREEAM “Very Good” rating. Communal facilities include a contemporary office lobby and business lounge, as well as those designed to promote a better work/life balance such as outdoor terraces on levels four to seven, an end-of-trip facility comprising 250 bicycle spaces, lockers and shower facilities. There is also a luxury gym, which includes a swimming pool, in the building.

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