Aberdeen Investments, on behalf of the Standard Life Pooled Pension Property Fund, has acquired Standbrook House in Old Bond Street, London, one of the world’s most prestigious shopping destinations.

“This marks the Fund’s second significant investment of the year, following the acquisition of the Sears Retail Park in May,” said Aberdeen.

“The mixed-use retail, office and residential building incorporates two high quality retail units, let to high-end watchmaker Richard Mille and luxury leather and fashion goods brand, Tod’s.

“There are four floors of offices above and two residential apartments. The building, which dates from the 1900’s, is one of the more recognisable in the renowned street.”

David Stewart, Fund Manager at Aberdeen Investments for the Standard Life Pooled Pension Property Fund, said: “This acquisition represents a strong addition to the Fund’s portfolio, aligning with our strategy of investing in high-quality assets with long-term income and capital growth potential.

“It follows a series of disposals of industrial assets, which were sold at competitive pricing. We anticipate further acquisitions in London in the near future.”

Chapman Petrie and Hall Lahaise acted for Aberdeen and the vendor was represented by JLL & CBRE.