Iroko ZEN acquires One Lyric Square in London

French SCPI Iroko ZEN has purchased One Lyric Square, an office building in Hammersmith, London, from Schroders (UK Real Estate Fund). 

One Lyric Square

The property, which offers 9.602 m2 of Grade A office space, is fully leased to The Office Group (TOG) and has a WAULT (weighted average unexpired lease term) of 12.9 years without breaks, ensuring stable, long-term income. 
One Lyric Square was originally built in the 1970s and underwent a £32 mln (€36.8 mln) renovation in 2018, transforming it into a modern, high-quality office location. 
This deal represents Knight Frank's tenth transaction with Iroko and Iroko ZEN's fourth property acquisition in London since 2024, demonstrating the ongoing interest of international investors in well-situated London properties that offer long-term income.
Knight Frank assisted Iroko with the acquisition of One Lyric Square.
Richard Stewart, partner, Capital Markets, Knight Frank, Europe, commented: “London continues to demonstrate its enduring appeal to international capital, particularly for investors seeking long-term income security. One Lyric Square is a prime example of a modern, high-quality office asset, and we are delighted to have supported Iroko once again as they expand their London portfolio.”
Marion Bertrand, head of Investment, Iroko also commented, saying: “One Lyric Square is an exceptional addition to our European portfolio, offering both secure, long-term income, and exposure to a well-established London submarket. The combination of high-quality refurbishment, a strong tenant covenant, and its central Hammersmith location makes it a great fit with our investment strategy.”