Buyers sought for £290m office space

Office design news from Morgan Lovell

Published on 16-09-2011

Firms looking to invest in new office interiors may soon be given the chance to make a bid for BlackRock UK Property Fund and LaSalle Investment Management’s Tower 42 estate, after the City of London site was placed on the market.

Those bidding for the freehold interest of the 324,000 sq ft office tower will need to meet an asking price of £290 million.

However, five other sizeable commercial properties will form part of the deal, with the 20 Old Broad Street premises among them.

Property Week reports that the task of finding a buyer for the properties has been left in the hands of Jones Lang LaSalle.

Speaking to the news provider, Jeff Morton, BlackRock managing director, said the site offers a range of benefits.

He added: "The property affords not only high profile asset management initiatives but redevelopment and refurbishment potential, alongside short-term lettings of vacant space."

Copyright Press Association 2011