BCP - follows buying property in London trend
Dublin-based BCP Asset Management have increased their London property portfolio by £34 m
(€49 m). This is the third major property deal in January for Irish investors buying property in London.
The company said today it had bought 45-50 Old Bond street London on behalf on the Irish Life/BCP London property fund and BCP private investors. The main occupants of the building are De Beers diamonds, Lloyds TSB and Bear Stearns International.
CB Richard Ellis Gunne acted as advisor to the Irish Life / BCP London property fund. The fund has now re-opened for a limited period to raise a maximum of $2.25m.
Earlier this month Michael Whelan, the owner of house builder Maplewood Developments, bought Victoria House in London for €230m. Also in January, Dubliner Garrett Kelleher's investment vehicle, Shelbourne Developments, acquired the Lloyds building in London for around €245m.
