Key Facts

GENO Newgate - Fully Syndicated

With GENO Newgate, Doric Asset Finance provided the opportunity to invest in a property with a long-term lease in the City of London's growing office market.

The Property
7 Newgate Street is an office building in the City of London located next to St. Paul’s Cathedral, the Old Bailey and the new Paternoster Square development. A number of renowned multi-national companies such as Deloitte and KPMG, as well as the London Stock Exchange, occupy buildings in the immediate vicinity, with Merrill Lynch and Goldman Sachs located directly opposite. Access to public transport is provided by St. Paul’s underground station and the City Thameslink, both located close by.

7 Newgate Street is a modern building, constructed in 2000, which combines functionality with elegant design. The layout and size of the floors, and the building's central location, make the property particularly appealing to tenants.

The Tenant
The building is under lease to AXA Investment Managers SA until 2025. This firm belongs to the Asset Management division of the multi-national insurance and finance group, AXA. 150,000 employees serve 65 million customers worldwide. In 2007 the AXA Group handled investments totalling
EUR 1,281 billion with turnover of EUR 93.6 billion and profit for that year of EUR 5.7 billion.

Conclusion
7 Newgate Street is a promising investment in the City of London which - through the 5 yearly upwards only rent reviews in the long-term lease with AXA - offers investors upside potential and the ability to participate in the growing prosperity of the British capital.