Barclays Real Estate has provided the Tishman Speyer Core European Fund with a £109 mln (EUR 124 mln) loan to purchase Sanctuary Buildings, a landmark freehold office building in Westminster, London, which is let to the UK Government.

Tishman Speyer purchased the 227,000 sq ft (21,000 m2) office property, occupied by the Department for Education on a lease expiring in 2017, from Irish property company Vico Capital.

The acquisition is in line with the Tishman fund's strategy of investing in large, prime, stabilise office assets in major European cities that will deliver on-going yield and longer term capital growth, the company said.