Hannover Leasing Buys Office Building in City of London
Germany-based Hannover Leasing has acquired 30 Crown Place in the City of London from Greycoat Central London Office Development Fund for £139 million (€163 million). Hannover Leasing plans to contribute the property to one of its closed-end real estate funds.
The 18,397-square-metre property is certified BREEAM Very Good and has photovoltaic panels on its roof to provide for some of its power demand. The building was completed in 2009.
Law firm Pinsent Masons LLP occupies 85 percent of 30 Crown Place on a long-term lease with a 20-year term through 2030. The other 15 percent is occupied by Crown Place Financial Ltd on a five-year lease. Pinsent Masons intends to take over that space when the lease expires on a 15-year lease through 2030.