Kirkbi, the $16bn (£11.3bn) fund managing the wealth of the family behind Lego, has acquired the UK headquarters of Macmillan Publishers in King’s Cross for £48.5m as it looks to expand its real estate portfolio.
The 44,107 sq ft building at Porters Wharf, N1, was sold by Derwent London and a private UK investor. Derwent held a 50% stake in the building, which is fully let to Macmillan until 2034.
The deal represents Kirkbi’s third property acquisition in London. The fund also owns 1 Plough Place, EC4, where Lego is a tenant, and New Fetter Place, EC4.
Kirkbi’s real estate portfolio grew 14% last year to $1.2bn (£900m) and the fund is understood to be targeting the UK, Germany and Switzerland for future investments.
Chairman Kjeld Kirk Kristiansen, the grandson of Lego founder Ole Kirk Kristiansen, is Denmark’s second-richest man with a net worth of around $5.3bn, according to the Bloomberg Billionaires Index. The fund owns a 75% stake in Lego Group and a 29.7% interest in Merlin Entertainments, which operates the Legoland parks.
Corbett Northam and Savills advised the vendors; Farebrother represented Kirkbi.
To send feedback, e-mail Louisa.Clarence-Smith@egi.co.uk or tweet @LouisaClarence or @estatesgazette
