The prime freehold 110,143 sq ft (10,232 sq m) building, which is adjacent to Cannon Street Station, was acquired by Ocubis in 2013 who subsequently undertook a major refurbishment to create contemporary high quality office, restaurant and leisure accommodation. The property is fully let generating £6.4 million per annum and offers a diversified tenant base with long unexpired lease terms.

The high end serviced office provider Pavilion, which is owned by Ocubis, has committed to around a third of the space in the building on a long lease.

Sean Lee at KiwoomAM comments: 'Following an extensive assessment of the UK and Continental property markets with our advisers and our involvement in Project Oval, we see the purchase of Cannon Green as the first step in building a UK property portfolio and expanding our European portfolio.'

Colliers International and CMS were retained by KiwoomAM. Mishcon de Reya were retained by Ocubis.

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Savills plc published this content on 13 December 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 13 December 2018 10:14:05 UTC