Quadrant and a private Singapore-based family office have acquired 6 Gracechurch Street in the City of London from USS for an undisclosed price.

The acquisition is the first deal to be completed by Quadrant and the family office, which are looking to amass and asset manage a portfolio of high-quality offices in Central London. 

USS completed an extensive refurbishment of the 47,000 sq ft building in 2023. The BREEAM Very Good rated property has a WAULT of 7.8 years and is fully let to tenants including BT, Gaws of London and Partner Reinsurance.

Christopher Daniel, founding partner at Quadrant, said: “Six Gracechurch Street is already fully let to high-quality tenants following its recent refurbishment, clearly showing there is robust demand for offices in the City of London able to meet modern occupier requirements.

“We are excited to be embarking on building this portfolio at a time when we have likely reached a point in the cycle where valuations, including those for some of the city’s best located office assets, have reached a level that is providing investment opportunities that may not be seen again for considerable time. We will use our market knowledge, development and asset management expertise to unearth the best opportunities and drive superior risk-adjusted returns.”

Quadrant and the family office were advised by Savills. Cushman & Wakefield acted for USS.