trending Market Intelligence /marketintelligence/en/news-insights/trending/F_geDhcsNIlUIM9Hmaug1g2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

UK council to buy £296M of London office properties

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate (CRE) Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd

Segment

IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help


UK council to buy £296M of London office properties

The Spelthorne Borough Council in the U.K. is in talks to buy the £160 million One Embassy Gardens office development at Nine Elms in London from developer Ballymore, Property Week reported.

The 156,000-square-foot development was placed on the market in October 2018 and is part of the 1,750-home Embassy Gardens project. Publishing company Penguin Random House is pre-leasing nearly 80% of the building, the Jan. 9 report added.

PW separately reported that the council is also under offer to purchase the 100,000-square-foot 100 Cheapside office property in the City of London.

The property was placed on the market by Aberdeen Standard Investments in 2018 through HFF, with a price tag of £136 million. The deal, if successful, would mark the Spelthorne council's first acquisition in the City of London real estate market.

The local authority will fund the deals with a low-interest loan from the Public Works Loan Board, the report added.