News ReleasesCommerz Real sells London office and business building Paternoster Square

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.

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.