Axa buys former A-list wedding venue turned office in Victoria for £80 million

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A UK property investor has shrugged off Brexit fears to buy an £80 million office building in Victoria, which once played host to a string of A-list weddings.

Axa Investment Managers Real Assets, advised by agent Savills, has agreed to snap up the 57,000 square feet Asticus Building at 21 Palmer Street, the Evening Standard can reveal.

The building was redeveloped with offices and apartments a decade ago from the existing Caxton Hall.

It was built in 1878 as Westminster Town Hall and actresses Elizabeth Taylor and Joan Collins were among those to get hitched there. 

The purchase from Aberdeen Asset Management, which was aided by property agent JLL, marks the first in the UK on behalf of the Axa Core Europe Fund.

Huw Stephens, UK head of transaction at AXA IM-Real Assets said the acquisition is testament to the firm’s “confidence in London’s long-term attraction as a leading business centre”.

It will provide comfort to investors in the capital’s real estate investment market, which has slumped ahead of the EU referendum next month.

Source Article from http://www.standard.co.uk/business/axa-buys-former-alist-wedding-venue-turned-office-in-victoria-for-80-million-a3260151.html

May 31, 2016 |
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