The property Balder has acquired is located in central London in the thriving Fitzrovia district, at the junction of Wells Street and Mortimer Street in the heart of the West End. The seller is the property development and investment company Great Portland Estates plc (GPE), which is listed on the London Stock Exchange.

”We are extremely pleased to have acquired such a fine building in the fast growing and popular Fitzrovia district. The area has truly flourished in recent years, and we foresee continued positive development and strong future growth,” says Balder’s CEO Erik Selin.

The building is known as wells&more, which was completed in 2009 and has recently been refurbished. In addition to office, healthcare and retail premises, the property offers a generous reception area, business lounge, courtyards and private terraces. The total lettable area amounts to approximately 11,000 sq.m. wells&more has been awarded an EPC rating of B for its high level of energy efficiency, as well as the “SKA Gold” sustainability certification for office fit-outs and interior projects.

The investment amounts to approximately SEK 2.2 billion. The transaction was carried out with the support of the real estate Investment Manager Feldberg Capital, and Balder will take over as property owner during March.