23 Mar 2026
- What Astra Asset Management buys 16-18 New Bridge Street in Blackfriars for £16.8m
- Why Manager is looking to capitalise on what it sees as an attractive entry point in the central London office market
- What next It is on the lookout for further investment opportunities in London
Astra Asset Management has added to its London office portfolio with the purchase of 16-18 New Bridge Street in Blackfriars, Green Street News can reveal.
The manager paid £16.8m for the asset, reflecting a yield of 6.77%, according to a social media post from the deal team.
The deal marks a further deployment of capital under Astra’s private assets strategy, following its acquisition of 7 Savoy Court from USS for £55m earlier this year.
Astra is looking to capitalise on what it sees as an attractive entry point in the central London office market.
Ken Brougher, head of private assets at Astra, said: “We remain focused on deploying capital into the office sector as it enters the early stages of recovery. This acquisition aligns with our strategy of targeting supply-constrained city centre locations where pricing dislocation creates compelling risk-adjusted opportunities.”
16-18 New Bridge Street is a multi-let property occupying a corner position opposite State Street’s newly developed headquarters. It comprises about 30,000 sq ft of office accommodation.
Ollie Thornton, partner at Knight Frank, which advised Astra on the deal, said: “16-18 New Bridge Street offers a core-plus profile and reversionary upside in a location set to benefit from State Street moving to the sub-market later this year. The acquisition illustrates continued demand for assets with clear business plans in the wake of market recovery.”
Anish Mathur, chief investment officer at Astra, said the firm was on the lookout for other investments in London commercial real estate.
Kauffmans and Allsop advised the seller.
Source by Guy Montague-Jones| Green Street News
