The deal is one of the largest investment transactions in the property market since the UK voted to leave the European Union. Photo / File
A German fund has bought Facebook's new London headquarters for £435m, in one of the biggest deals completed since June's referendum.
Deka Immobilien bought the building, called Rathbone Square, from developer Great Portland Estates, allowing the UK-listed company to return a profit of £110m to its shareholders.
Rathbone Square, which
will contain almost 250,000 sq ft of office space and 142 apartments, is still under construction but is expected to be completed next month, with Facebook moving in later this year.
The deal is one of the largest investment transactions in the property market since the UK voted to leave the European Union, further quelling fears that the uncertainty in the market following the vote would stifle investment in London commercial property.
However, the price paid by Deka is 4pc lower than the amount the building was valued at in September, Great Portland Estates said, indicating that the market, which is widely thought to have peaked around 18 months ago, could be slowing.
