Credit Suisse’s Real Estate Fund International (REFI) has purchased the 94,000sq.ft (8,733sq.m) 10-storey office-led The Monument Building in the City of London for about £118 million from Skanska.
Designed by Ken Shuttleworth’s Make Architects, the building features a ‘curtain’ of twisted, anodised aluminium fins on the south façade, four terraces, a large reception area and state-of-the-art cycle storage and shower facilities.
The building is multi let, with its floors occupied by a diverse group of tenants: Aldermore Bank, Booking.com, M7 Real Estate and Portuguese bank Caixa Geral de Depósitos, while Le Pain Quotidien and Olive + Squash are the retail tenants. Savills advised Skanska on the sale of the building.
“The development has been a real success, winning multiple awards and attracting great tenants to work in this dynamic and historic part of London,” said Helen Martin, MD at Skanska.
Skanska’s UK development business was established in 2012. It identifies opportunities in commercial development, focusing primarily on office buildings. The sale of The Monument Building follows the completion and sale of 66 Queen’s Square in Bristol in 2015. Skanska continues to build its portfolio in the two cities.
Picture: Monument Building
Article written by Cathryn Ellis