CANADIAN property giant Brookfield has acquired a Square Mile office block for £169.4m, in the latest sign of overseas demand for central London commercial property.

Chemicals company Johnson Matthey, consultancy firm RSM and corporate travel agency Reed & Mackay are among the eight occupants of the office block in Farringdon.

Real estate investment manager Barings, which bought the property in 2013, said it had "undertaken a number of value-add asset management initiatives" as it announced the sale of Nexus Place yesterday morning.

Darren Hutchinson, head of UK real estate transactions at Barings, said: "With a business plan now complete we are looking to recycle the capital into alternative strategies."

(c) 2019 City A.M., source Newspaper