UBS considering City office sale

Office design news from Morgan Lovell

Published on 13-09-2010

International financial services and fund management company UBS is reportedly considering the sale of its 50 per cent stake in one City of London office development.

Watermark Place offers 541,000 sq ft of office interior space and is half owned by the firm.

UBS has reportedly entered into talks with a closed-ended German fund for the sale of its £200 million stake in the property after aborting plans to do so earlier in year, Property Week reports. The fund is being advised by Savills, the news provider added.

The remaining 50 per cent of the property is owned by Oxford Properties Group.

UBS is presently headquartered in Zurich and Basel but has offices in more than 50 countries around the world, employing in excess of 64,000 individuals.

Watermark Place is situated on Angel Lane, just five minutes from the Bank of England and within walking distance of Mansion House and the Guildhall.

Posted by Ian Johnson