Schroder Real Estate Investment Management Limited
31 Gresham Street, London EC2V 7QA
Telephone +44 (0)20 7658 6000 Fax +44 (0)20 7658 6965
www.schroders.com
News Release
Schroder Real Estate acquires 55
Bishopsgate, London in a joint venture
21 January 2016
Schroder Real Estate has acquired 55 Bishopsgate, London EC2 on behalf of a joint venture between
Immobilien Europa Direkt, a Swiss Pan European fund managed by Schroders and a strategic
partner.
Duncan Owen, Global Head of Real Estate, Schroders commented:
“55 Bishopsgate is a high quality, multi-let building in a core City of London location that offers scope
for value enhancing asset management. The strategy is to undertake a refurbishment in order to take
advantage a strong occupier market. The property also situated within the City of London “Tower
Cluster” and as such offers the medium term opportunity for redevelopment and to significantly
increase massing.”
55 Bishopsgate is a prime freehold building on a 0.77 acre island site situated in a core City of London
location. The property comprises 198,000 sq ft of office and retail accommodation and is multi let to
eight tenants including Aon Insurance, Amalgamated Metal Corporation and retailers including Pret a
Manager, Itsu and Fitness First. The price of £187.5 million reflects a net initial yield of 4.9% and
capital value of £946 per sq ft.
Immobilien Europa Direkt is an investment group of Zurich Investment Foundation. It provides
investors with a diversified portfolio of commercial real estate in the main western European markets.
Schroders was advised on the purchase by Strutt & Parker and King Wood Mallesons. The Capital
London Fund was advised by TH Real Estate, CBRE and Norton Rose Fulbright.
Schroders plc
Registered office at above address
Reg. 3909886 England
1
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Schroder Real Estate Investment Management Limited
31 Gresham Street, London EC2V 7QA
Telephone +44 (0)20 7658 6000 Fax +44 (0)20 7658 6965
www.schroders.com
For further information, please contact:
Estelle Bibby, Senior PR Manager
Tel: +44 (0)20 7658 3431 / estelle.bibby@schroders.com
Notes to Editors
For trade press only. To view the latest press releases from Schroders visit:
http://ir.schroders.com/media
Schroder Real Estate
Schroders has managed real estate funds since 1971 and currently has £12.4 billioni (€16.8 billion
/US$18.7 billion) of gross real estate assets under management as at 30 September 2015.
Most of the property funds referred to are unauthorised collective investment schemes as defined in
the Financial Services and Markets Act 2000. Promotion of these funds is restricted and access to full
information about these funds is only available to those exempt from the restriction.
For further information about Schroders’ property business visit www.schroders.com/realestate
Schroders plc
Schroders is a global asset management company with £294.8 billion (EUR 400.0 billion/$446.5
billion) under management as at 30 September 2015. Our clients are major financial institutions
including pension funds, banks and insurance companies, local and public authorities, governments,
charities, high net worth individuals and retail investors.
With one of the largest networks of offices of any dedicated asset management company, we operate
from 37 offices in 27 countries across Europe, the Americas, Asia and the Middle East. Schroders
has developed under stable ownership for over 200 years and long-term thinking governs our
approach to investing, building client relationships and growing our business.
Further information about Schroders can be found at www.schroders.com.
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i
Includes holdings of Real Estate Capital Partners and Schroders Multi-asset Funds in the Real Estate AUM
Schroders plc
Registered office at above address
Reg. 3909886 England
2
For your security, communications may be taped or monitored