HFF Announces £248M Sale of Cannon Bridge House in London
May 09 2018 - 3:15PM
Business Wire
HFF Real Estate Limited (HFF) announces the £248 million sale of
Cannon Bridge House, a landmark City of London office asset
totaling 286,595 square feet spread across two buildings.
The HFF team represented the seller, Blackstone, in this
landmark transaction.
Cannon Bridge House was originally developed in 1991 to provide
a total of 286,595 square feet of highly specified office
accommodation arranged over basement, ground and six upper floors.
The property comprises two independent, yet interconnected
buildings; the Atrium Building to the north, and the River Building
to the south. The River Building has recently undergone a
comprehensive refurbishment enhancing its warehouse heritage and
was pre-let to creative tenants such as Deliveroo and Kobalt Music.
The building comprises approximately 91,698 square feet of office
and ancillary accommodation and also boasts the City of London’s
largest roof terrace of circa 1 acre with spectacular views across
London and the River Thames. The Atrium Building comprises 194,897
square feet of office accommodation arranged over first to sixth
floors, with escalators providing direct access from the ground
floor reception to the atrium base.
Across the two buildings, the property has a WAULT in excess of
10.5 years to expires and a current average passing rent of £46 per
square foot with opportunities for income enhancement.
Cannon Bridge House is situated along Upper Thames Street on a
2.5-acre site overlooking the River Thames. The property is
directly above Cannon Street Station, which is considered one of
London’s busiest rail terminals and is surrounded by a number of
significant developments including Bloomberg Place, the new
European headquarters of Bloomberg and The Wallbrook Building.
The HFF investment advisory team representing the seller
included senior managing director Jamie Pope, managing director
John Starkie and senior director Andrew Laing.
About HFF
HFF and its affiliates operate out of 26 offices and are a
leading provider of commercial real estate and capital markets
services to the global commercial real estate industry. HFF,
together with its affiliates, offers clients a fully integrated
capital markets platform, including debt placement, investment
advisory, equity placement, funds marketing, M&A and corporate
advisory, loan sales and loan servicing. HFF, HFF Real Estate
Limited, HFF Securities L.P. and HFF Securities Limited are owned
by HFF, Inc. (NYSE: HF). For more information, please visit
hfflp.com or follow HFF on Twitter @HFF.
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version on businesswire.com: https://www.businesswire.com/news/home/20180509005983/en/
HFFJAMIE E. M. POPE, 44-020 7509 6700HFF Senior
Managing Directorjstarkie@hfflp.comorJOHN STARKIE, 44-020
7509 6700HFF Managing Directorjstarkie@hfflp.comorKRISTEN
MURPHY, (617) 338-0990HFF Director, Public
Relationskrmurphy@hfflp.com
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