Hermes Real Estate Investment Management Ltd, on behalf of the BT Pension Scheme, has agreed to acquire 40/50 Eastbourne Terrace in London for £76 million (€87 million). Westlink Global Investments Ltd is the seller of the 12,820-square-metre office building. CB&I UK Ltd is the largest tenant, occupying all of 40 Eastbourne Terrace.

“This acquisition is consistent with our strategy of redeploying capital from trophy-type assets by investing in more asset management–intensive stock playing to our core asset management strengths,” says Chris Taylor, CEO of Hermes.

In May, Hermes sold its interests in One Finsbury Circus. The 19,500-square-metre office building in London was sold by a joint venture between Hermes, on behalf of the BT Pension Scheme, and clients of