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Ares Real Estate Funds, affiliates of Ares Management Corp., have acquired the Copyright Building in London from Union Investment, adding a fully leased office and retail asset in the city’s West End to their portfolio. The property comprises approximately 106,000 square feet and is described as nearly 100% occupied, underscoring stable in-place income at the time of the transaction.
The asset houses the London offices of Netflix, which occupies space through a sublease from Capital Business Services. The presence of a globally recognized media and streaming company as a key occupier highlights continued demand for high-quality workspace in select Central London locations. The building includes both office and retail components, though specific allocations between uses were not disclosed.
Transaction details reported in the market indicate the Copyright Building sold for £160 million. Published coverage characterized that figure as approximately $216 million in U.S. dollar terms, though the precise conversion and timing of the exchange rate were not specified. No additional financial metrics such as cap rate, debt structure, or yield information were reported.
In a statement on the acquisition, Wilson Lamont, partner and co-head of European real estate at Ares, said the purchase aligns with the firm’s thesis of targeting high-quality, well-located assets that can benefit from the rental growth observed in many Central London submarkets. His comments frame the deal as part of a broader strategy focused on established urban locations with demonstrated leasing momentum.
The Copyright Building is centrally located in Fitzrovia, a sought-after office submarket within London’s West End. According to Union Investment, this positioning has supported the property’s strong occupancy profile. The combination of a prime West End address and a prominent corporate occupier is consistent with investor focus on well-leased, institutionally positioned office assets in key European gateway markets.
Hamburg, Germany-based Union Investment originally acquired the property immediately after its completion in 2017. Since that time, the building has been held in the open-ended public real estate fund UniImmo: Europa. The sale to Ares Real Estate Funds marks an exit from the investment for Union Investment after several years of ownership during which the asset remained in the portfolio of that fund.
Union Investment was advised on the sale by Savills and Knight Frank, reflecting the involvement of global brokerage firms on the disposition of this Central London office and retail property. The advisory roles underscore ongoing institutional participation on both the investment and advisory sides of the market for high-profile West End assets.
The post Ares Real Estate Funds Acquire Copyright Building, Home to Netflix’s London Offices appeared first on CRE Market Beat.
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