INDUSTRY NEWS

Tishman Speyer buys new London office

Tishman Speyer has bought a London office from Hermes Real Estate and WELPUT for £210m.

The US investors new office space in Paddington Basin, is situated in a prime location in the west of London.

The Point, as the office building is better known, is positioned next to the Grand Union Canal and opposite Paddington Station and was designed by architects Terry Farrell and Partners.

Developed in 2002, the  tower of office space at 37 North Wharf Road stands at 11-storeys. The office space situated next to the Grand Union Canal was originally commissioned for Orange Telecommunications. Current occupants of the 236,239 sq ft office space at include, CB&I UK, British Energy and Everything Everywhere.

This is the second London office Tishman Speyer has acquired in the last three months. In April the firm purchased the headquarters of  UK supermarket Sainsbury’s at 33 Holborn for £310m.

Tishman Speyer Co-CEOs, Jerry Speyer and Rob Speyer, said: “We have a very positive long-term view of the London office market and we are continuing to seek both development and acquisition opportunities accordingly.”

In the last 20 years, US firm Tishman Speyer, has continued to expand its London portfolio, investing in around 5 million square feet in the UK capital.

By: Kirsty MacGregor

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