M&G Real Estate has completed its acquisition of Equitable House, a City offices repositioning opportunity that attracted strong bidding, for £35 million.
CoStar News revealed in May that M&G had emerged to go under offer after around 10 parties lodged expressions of interest in the building at 47 King William Street, at the north end of London Bridge in the City.
Germany's DWS, advised by CBRE, was selling the office seeking in excess of £34 million.
DWS bought the 42,610-square-foot office in 2018 for £31 million. Tenants include Pool Reinsurance Company and global executive recruiter Leathwaite. There is vacancy, creating an opportunity for a repositioning.
Oxygen is understood to have been consulted by M&G on the asset repositioning.
CBRE advised DWS. JLL advised M&G.