Brookfield Asset Management has completed a substantial £635 million acquisition of a major office property at 30 Fenchurch Street in London, underscoring its confidence in the capital’s office market. The deal involves a 550,000 square foot office building, with strong occupancy levels and excellent transport connections, including the new Elizabeth Line.

Brad Hyler, Managing Partner and Head of European Real Estate at Brookfield, highlighted the strategic value of the investment, stating, “As a long-term investor in the City of London, we believe the City is an attractive investment market and we are excited to expand our portfolio with the acquisition of 30 Fenchurch Street.”

Despite the shift towards flexible working arrangements prompted by the pandemic, with many firms reducing headquarters space, Brookfield’s latest acquisition reflects a wider market anticipation of continued demand for high-quality, well-situated office spaces in London.

The property, part of a vibrant commercial area, adds to Brookfield’s extensive investment in the city, which includes ownership stakes in the Canary Wharf Group. The company’s strategy appears to focus on prime locations with strong sustainability and wellness credentials, essential for attracting top-tier tenants.

Hyler further emphasised London’s enduring appeal, remarking, “London remains the commercial centre of Europe and one of the world’s premier global gateway cities, and as such we see continued robust demand for premium, well-amenitized office space in prime locations.” This transaction marks one of the most significant office property deals in London since the onset of the COVID-19 pandemic.