The 300,000-sf building has an annual rental income of more than euro 14.7 million ($18.9 million) and is let to the Department for Work and Pensions and US energy company Amerada Hess. "This purchase is a further step in the fulfillment of our investment strategy in the UK," says Istithmar managing director Richard Johnson, explaining that the strategy involves "assembling a portfolio of top quality assets in prime locations."
Istithmar is an alternative investment house based in UAE and owned by Dubai World, which is in turn wholly owned by the Government of Dubai. Its equity investments exceed $2.6 billion.
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