Japanese shipping group IINO Kaiun Kaisha (IINO Lines) has completed the off-market acquisition of 111 Strand in London from ESAS Holdings for an undisclosed price.
The building, which was recently comprehensively refurbished, comprises 37,781 sq ft of Grade A office and retail space, arranged over lower ground, ground and six upper floors.
Ed Fairweather, partner at Knight Frank, which advised IINO Lines on the deal, said: “111 Strand represents our second acquisition in 2024 on behalf of Japanese capital, an investor group which is seeing London as comparatively good value and can benefit from Japan’s low interest rates. We expect to see significant further interest from Japanese investors in a wide range of real estate assets across Europe’s gateway cities in the year ahead.”
IINO Lines was advised by Knight Frank and CMS. The vendor was advised by Capreon and Boodle Hatfield LLP.
