A Bankside office block at Riverside House next to Southwark Bridge has changed hands for £122 million.
M&G Real Estate has acquired the prominent riverfront building from German asset managers IVG (UK).
"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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