- Central location and full rental
- Portfolio optimisation at hausInvest
News ReleasesCommerz Real sells London office and business building Paternoster Square
Time to read3 min.
updated at06/06/2024
CategoryPressemitteilungen
Commerz Real sold the fully leased office and commercial building “Paternoster Square” in London as part of a portfolio optimisation of its open-ended real estate fund hausInvest. Buyers in an off-market transaction are the UK investment manager CLI Dartriver in cooperation with several European family offices. Non-disclosure was agreed on the purchase price.
We used the continued high demand for properties in excellent locations to achieve a very good result for our investors.
Paternoster Square and the property of the same name benefit from its central and historic location in the centre of the City of London next to the adjoining St. Paul’s Cathedral. The building has five floors with a total area of 1,897 square metres. Around 80 percent of the office space is leased to the Gateley law firm in the long term. Retail stores are located on the ground floor. The property was completed in 2002 as part of the neighbourhood development of Paternoster Square and was acquired together with the neighbouring “Paternoster House” for hausInvest.
In the UK, the Fund will continue to be present even after the sale. The largest property in the portfolio is Westfield London, Europe’s largest shopping centre with 250,000 square metres and almost 300 shops. In addition, there is the Paternoster House in the British capital and the 180 Great Portland Street office and retail property, the Mann Island office building in Liverpool and the centrally located Victoria Square shopping centre in Belfast.
Commerz Real AG is the asset manager of the Commerzbank Group and has 50 years of international market experience. The company combines extensive know-how in asset management with broad structuring expertise and uses this expertise to develop tangible asset-oriented fund products and individual investment solutions in the real estate and infrastructure sectors. As a leasing service provider of Commerzbank, Commerz Real Mobilienleasing also offers needs-based leasing concepts.
Since 2025, the Commerzbank Group’s asset management holdings have been bundled with Commerz Real AG. In addition to Commerz Real’s brands and products, these include the Aquila Capital investment company with a focus on sustainable tangible asset investments in the area of energy infrastructure and Yellowfin as a boutique for liquid investment strategies. Under the umbrella of Commerz Real AG, a total of around 1,000 employees manage assets of around EUR 55 billion at around 20 locations.
A Commerzbank Group company