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Canada Life Investments picks up UK office building for £90M

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Canada Life Investments picks up UK office building for £90M

U.K.-based asset manager Canada Life Investments bought the 172,000-square-foot Riverside House office building in Rotherham, U.K., for approximately £90 million, CoStar U.K. reported.

Evans Regeneration Investments was the seller of the asset on Main Street, which is let to the Rotherham Metropolitan Borough Council for 35 years, at a rent of about £3 million per year. The purpose-built office building was delivered in 2011, and laid out in three wings and stepped over four, five and six floors, the Oct. 17 report added.

Christopher Dee Property Investment advised Canada Life for the deal and JLL acted as adviser for Evans Regeneration.