London skyscraper set to become UK’s most expensive office with £1.8bn sale

Building could surpass sale of ‘Walkie Talkie’ that came with £1.3bn price tag

Vincent Wood
Sunday 04 April 2021 23:18
Comments
A lone woman wearing a facemask walks over an empty Waterloo Bridge in central London during England's third national lockdown
A lone woman wearing a facemask walks over an empty Waterloo Bridge in central London during England's third national lockdown

A London skyscraper is set to become the UK’s most expensive office when it is put up for sale towards the end of the year with a £1.8bn price tag.

The 37-storey 100 Bishopsgate has sat alongside the likes of the Cheesegrater and Gherkin buildings in the City of London’s square mile since its completion in 2019.

Now Canadian asset management firm Brookfield is set to sell on the property, having appointed agents to handle the sale last year while reportedly sounding out officers from major firms, The Telegraph reported.

The building has continued to go against expected trends in investment since its inception, having being built over the course of Brexit negotiations and now going up for sale as firms consider making working from home arrangements more permanent in the wake of coronavirus lockdowns.

Read more:

A property source told the newspaper the scale of the sale meant any interest would be “overseas exclusively, far Eastern most likely”.

The building is currently home to a number of prestigious tenants, including the Royal Bank of Canada, investment bank Jeffries and the Magic Circle law firm Freshfields.

A source close to the sale told The Telegraph: “We have a lot of conversations with people all the time”, with the publication adding that the building would likely be sold in its entirety as opposed to offering up a stake.

They added: “We intend to bring 100 Bishopsgate to market later this year once restrictions have eased so that we can run a full process and enable potential investors to conduct site visits.”

The current title for the nation’s dearest office block belongs to a neigbhour of the Bishopsgate building, 20 Fenchurch Street — nicknamed the Walkie Talkie — which sold for £1.3bn in 2017.

Register for free to continue reading

Registration is a free and easy way to support our truly independent journalism

By registering, you will also enjoy limited access to Premium articles, exclusive newsletters, commenting, and virtual events with our leading journalists

Please enter a valid email
Please enter a valid email
Must be at least 6 characters, include an upper and lower case character and a number
Must be at least 6 characters, include an upper and lower case character and a number
Must be at least 6 characters, include an upper and lower case character and a number
Please enter your first name
Special characters aren’t allowed
Please enter a name between 1 and 40 characters
Please enter your last name
Special characters aren’t allowed
Please enter a name between 1 and 40 characters
You must be over 18 years old to register
You must be over 18 years old to register
Opt-out-policy
You can opt-out at any time by signing in to your account to manage your preferences. Each email has a link to unsubscribe.

Already have an account? sign in

By clicking ‘Register’ you confirm that your data has been entered correctly and you have read and agree to our Terms of use, Cookie policy and Privacy notice.

This site is protected by reCAPTCHA and the Google Privacy policy and Terms of service apply.

Join our new commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged in