Hermes Real Estate and the Canada Pension Plan Investment Board (CPPIB) have bought a central London office asset.
The joint venture invested 拢156m (鈧�222m) in Haymarket House in London鈥檚 West End district.
The 123,000 sqft building was sold by listed UK company Land Securities.
Hermes Real Estate, the pension fund manager owned by the BT Pension Scheme, has been investing in the UK with CPPIB since forming a joint venture in .
Chris Taylor, head of private markets at Hermes Investment Management, said: 鈥淭he purchase of Haymarket House is consistent with the joint venture partnership鈥檚 commitment to investing in strong central London assets with significant added value return potential.鈥�
Andrea Orlandi, CPPIB鈥檚 managing director and head of real estate investments for Europe, said: 鈥淭he addition of Haymarket House to our joint venture portfolio is a great example of how we continue to advance our partnership with Hermes Investment Management through the acquisition of high-quality assets.鈥�
The building includes 87,000 sqft of office space, partly refurbished in 2012.
The asset also includes 36,000 sqft of leisure accommodation spread across two units.
