Japanese investor acquires stake in City office building

Japanese investor Daibiru has acquired a “major stake” in the refurbished Warwick Court office building at Paternoster Square in the City of London from Mitsubishi Estate London for an undisclosed price.

The circa 210,000 sq ft building was built in 2003 and underwent a significant refurbishment programme in 2022. It was reportedly put up for sale last year with a price tag of circa £300m.  

The refurbishment programme included a rooftop terrace overlooking St Paul’s Cathedral and enhanced on-site amenities and sustainability features, securing the building an EPC A and BREEAM Excellent rating.

The acquisition is Daibiru’s second project in the UK following the purchase of the 121,000 sq ft Capital House in June last year. It acquired the office building, which is located near the Bank of England, from Barings for £169m.