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Riverside House next to Southwark Bridge changes hands for 122m

London SE1 website team

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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