GE Commercial Finance Real Estate (GE) has paid £20m for three buildings in London’s Midtown and the City.
They have bought 55,000 sq ft of office space in two adjoining buildings at 23-26 Austin Friars, EC2, from Commerzbank for £11.75m.
They have also acquired 67-69 Lincoln’s Inn Fields, WC2, from agent Farebrother, on behalf of a private client, for £8.5m.
GE bought the property with Blenheim House Developments.
It comprises 29,030 sq ft of office space over basement, ground and five upper floors.
Baker Pugh Mclean acted for GE.
Alec Burger, managing director of GE Commercial Finance Real Estate, said the company was investing in joint ventures to be positioned for any upturn in the occupational market.
”One of GE’s key platforms for growth in the UK is the formation of strategic joint ventures with incentivised managers.”
Knight Frank acted on behalf of GE; DTZ acted for Commerzbank.
References: Property Week 08/07/05 page 11
