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Press release
Legal & General acquires Steel Vulcan House, in Sheffield for £50m
LGIM Real Assets (Legal & General) announces that it has acquired Steel Vulcan House, a 120,000 sq ft modern office building in the centre of Sheffield for approximately £50 million.
16 Jul 2018
LGIM Real Assets (Legal & General) announces that it has acquired Steel Vulcan House, a 120,000 sq ft modern office building in the centre of Sheffield for approximately £50 million from Trinova Real Estate.
Acquired on behalf of Legal & General’s Annuity Fund, the office will be refurbished to create a high-quality and smart office building and is let in its entirety to a government department.
Legal & General was advised by Lewis Ellis and Clifford Chance. Cushman & Wakefield acted for the occupier, a government department.
Tom Roberts, Head of Strategic Investment at LGIM Real Assets:"This is a great deal for the Fund, offering a secure long term income stream as well as satisfying our objective of increasing our exposure to public sector let investments."
Sam Resouly, Partner at Trinova Real Estate:"We are delighted to have completed this transaction and enjoyed working with all parties to achieve this outcome. This is the first full life-cycle investment concluded on behalf of the Morood Investment Company and we are pleased that all parties achieved their goals."
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