KWAP, advised by RREEF, finalised the deal to buy the iconic Richard Rogers-designed office property from National Pension Service of Korea for a reported £215m. The Southeast Asia government retirement fund has recently been increasingly active in the City’s investment market; last year it placed 5 Aldermanbury Square under offer for around £225m before the deal was terminated. In October 2012, it completed its purchase of 10 GreshamStreet, for £200m. NPS bought the 247,000 sq. ft. 88 Wood Street in November 2009 for £183m. 

The tower is home to occupiers including Mitsubishi, Hewlett Packard, Collins Stewart and National Australia Bank. The total current income equates to around £12.7m per annum, with an average weighted lease term of over seven years. All parties declined to comment. 

If you are looking for high quality serviced offices in St Pauls, Moorgate or anywhere else in Central London, from leading providers, please contact Square Mile Offices. Our specialist consultants are highly skilled in finding you fantastic serviced office space from our extensive portfolio of prime locations in Central London.