East Side Roll!
The focus on the EC3 property market and the east side of the City
core looks set to continue after a recent spate of headline transactions.
The huge majority pre-let of insurer Generali's 430,000 sq ft office scheme at 120 Fenchurch Street,
EC3 has been confirmed to fund management group M&G.
The company has taken a
20-year lease for approximately three quarters of the
office space, consolidating
all their London offices into this one location.
The planned office building at 1 Mitre Square, EC3 by Helical Bar has
received funding from Healthcare of Ontario Pension Plan Trust Fund to facilitate construction of
a 17 storey building consisting of approximately 270,000 sq ft of offices. A completion date of Q4 2016 has been
The sale has also been confirmed of Bankside House, 107 Leadenhall
Street, EC3, to London & Oriental.
RBS Real Estate has agreed to sell the mulit-let unit for a
sum reported to be close to £60m, a yield of 5.75%. Long-term redevelopment
of the site has long been mooted.
The extraordinary regeneration of the Spitalfields area over the past
two decades is set to continue following confirmation of backing by M&G
Real Estate for Exemplar Properties’ proposals for the Fruit & Wool Exchange. The building is set to offer
approximately 320,000 sq ft of office retail and leisure accommodation.
For further discussion please contact Jon Beilin or David Alcock.
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