Continuing the trend of Asian investors making significant deals in London, Blackstone has sold the prime site at 125 Old Broad Street (once known as Stock Exchange Tower) to Singaporean investor City Developments.
Not only is this yet another clear demonstration of foreign investors’ confidence in the London market, at £385 million it is one of the biggest single-building Square Mile deals so far this year.
Indeed, Chief investment officer for City Developments, Frank Khoo, says: “We have confidence in the long-term fundamentals of London as a global financial hub with a robust office market.”
Home to the London Stock Exchange for more than 30 years (before it relocated in 2004), the 26-storey, 329,000 sq ft building is now let to several notable firms, including King & Spalding International and China International Capital Corporation.
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.
