INDUSTRY NEWS

Tower 42 off the market

Tower 42 – the tallest tower in the City of London, standing at a majestic 600 feet – has been taken off the market. Although it has been advertised for sale since April, and has attracted interest, the group which owns the tower have since swung in a ‘new direction’ and decided to keep the valuable property.

Tower 42 includes over 342,000 square feet of prime London office space, described on its website as ‘an outstanding business destination.’ The building is owned by a wide group of investors, including BlackRock Inc and LaSalle Investment Management, and its unique facilities include five restaurants, its own hairdresser and nutritionist, and ‘room service’ which fetches office workers anything from a hot Panini to a Shiatsu massage.

The tower was valued around £300 million, but thanks to an ‘inflow of funds,’ the group which owns it will be able to gain more than that from possession of the striking tower as a long-term investment.

 

Image: Wikimedia Commons