Warburg - Henderson KAG acquires eighth building for Pan-Europa Fonds Nr. 3
Office and retail property for around €50m purchased in Glasgow
Warburg - Henderson Kapitalanlagegesellschaft für Immobilien mbH, Hamburg, has acquired the office and
retail property 95 Bothwell Street in Glasgow's CBD for its Pan-Europa Fonds Nr. 3. for ca €50m.
The building was constructed in 1931 and is prominently situated on an island site in the heart of the city's
CBD just a five-minute walk from the prime retail core. It provides some 12,750 sqm of lettable
accommodation with 43 basement car parking spaces let to a variety of strong tenants, such as JD
Weatherspoon Ltd, on a long-term basis. This is the second acquisition for the Fund in the UK after
purchasing the property "Woodbridge House" in London in January of last year.
Glasgow is currently one of the UK's fastest growing provincial cities and a candidate to host the
Commonwealth Games in 2014. The office market is experiencing strong take-up with financial and
professional services firms. Limited supply over the next two to three years is likely to drive rents higher.
The Warburg - Henderson Pan-Europa Fonds Nr. 3 was launched in August 2005 for a number of German
pension funds. There are currently 14 German and international institutional investors invested in the Fund
with a total equity commitment of around €300m. The Fund invests in core plus properties and has so far
acquired eight office, retail and logistic properties in France, Germany, Italy and the UK. Further investments
are being prepared.
The Warburg - Henderson Pan-Europa Fonds Nr. 3 was launched in August 2005 for a number of German
pension funds. There are currently 14 German and international institutional investors invested in the Fund
with a total equity commitment of around €300m. The Fund invests in core plus properties and has so far
acquired eight office, retail and logistic properties in France, Germany, Italy and the UK. Further investments
are being prepared.
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