Capital House, located on King William Street, a stone’s throw from the Bank of England in the heart of the City of London, comprises 121,489 sq ft of high-quality offices, arranged over eight upper floors, along with ground and lower ground floor retail let to Pret and Sainsbury’s.

Having acquired the asset in 2021, Barings has completed an extensive asset management programme, investing over £11m to provide high-quality, amenity-led spaces. This has included the refurbishment of the ground floor reception, installation of end-of-journey facilities (including 101 bike racks, six folding bike lockers, seven electric charging bike points, and ventilated lockers), introducing new terraces, and ultimately the refurbishment of six office floors. The scheme is now let to seven tenants over 11 leases, with office occupiers including Rothschild and Redburn (part of Rothschild & Co). 

As part of the refurbishment, Barings achieved an EPC B on the refurbished floors with a target of BREEAM Excellent accreditation (pending verification). The development also features a WiredScore Platinum certification. 

RX advised Barings, with Savills advising Daibiru. CMS acted as property and corporate legal advisors to Barings, with Clifford Chance advising the purchaser.  

Darren Hutchinson, Managing Director and Head of UK Transactions at Barings Real Estate, said: “The extensive repositioning of Capital House, including comprehensive office floor and common part refurbishments and subsequent lettings has resulted in a high quality asset worthy of its excellent location, with a world-renowned set of businesses calling it their working home. We’re pleased to have concluded this deal with Daibiru Corporation, ahead of our business plan following its off-market approach, which has served to reinforce our conviction in prime offices in central business districts that benefit from first-class transport links.  We are now looking to redeploy the proceeds to create further high-quality assets.” 

Gunther Deutsch, Managing Director, Head of European Transactions and Country Head Germany at Barings Real Estate, said: “This sale is a testament to our local teams, be it the asset management team transferring this asset into a class A building, or the transaction team concluding this core transaction in a not yet fully recovered core market. This transaction highlights why select office opportunities, in the right locations and with the right amenities, remain among our preferred investments across Europe, whether through developer JVs, refurbishments or change of use transformations that create strongly in demand high-quality office space. Alongside the office sector, logistics and living remain at the top of our list in terms of acquisitions, mainly with core+ to value add risk return profile.” 

For Barings
Ben Monteith/Tom Carnegie (SEC Newgate)
baringsRE@secnewgate.co.uk

Barings Real Estate
Barings Real Estate (BRE) is a part of Barings and offers a broad range of global investment opportunities across the private debt and equity investment markets. BRE invests in all major property sectors and offers an expansive range of financing solutions to real estate borrowers.  Follow us on LinkedIn at linkedin.com/showcase/barings-alternative-investments.

About Barings
Barings is a $442+ billion* global asset management firm that partners with institutional, insurance, and intermediary clients, and supports leading businesses with flexible financing solutions. The firm, a subsidiary of MassMutual, seeks to deliver excess returns by leveraging its global scale and capabilities across public and private markets in fixed income, real assets and capital solutions. Learn more at Barings.com.

*As of March 31, 2025