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Riverside House next to Southwark Bridge changes hands for 122m

A Bankside office block at Riverside House next to Southwark Bridge has changed hands for £122 million.

Riverside House next to Southwark Bridge changes hands for 122m
Riverside House from Southwark Bridge

M&G Real Estate has acquired the prominent riverfront building from German asset managers IVG (UK).

The 14-storey office building is let to media and communications regulator Ofcom until 2022 whilst the retail units on the Thames Path are occupied by The Real Greek, Zizzi and EAT.

"We are very pleased with the purchase of Riverside House," said Fiona Rowley of M&G Real Estate.

"South Bank is now an established central London market with a vibrant mix of uses and occupiers and we see strong rental growth and performance in the short and medium term."

Robert Rankin, director of IVG UK, added: "This sale realises the successful conclusion to our business plan for the property having purchased the building for 106 million in Q1, 2005."

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