Germany's Defo has made its first acquisition in London with the purchase of the 1 Plough Place office and commercial building for around EUR 44 mln. Defo, which is part of Union Investment, said the acquisition allows it to take advantage of the profitable exchange rate and of opportunities that have arisen in the country from the credit crunch. The London property is fully let to the Big Lottery Fund through 2021 and provides a total area of 5,600 m[sup]2[/sup]. The seller was troubled UK investment group New Star.
Premium subscriber content – please log in to read more or take a free trial.
