Oxford Properties eyes 10 Paternoster Square in £230m purchase

Posted by: Victor Pardis on 18th April 2013
Canadian developer and investor, Oxford Properties, is under offer to buy the London Stock Exchange’s home at 10 Paternoster Square  from Mitsubishi Estate Company for £230m. 

This purchase would be Oxford Properties’ second in Paternoster Square, following the acquisition of St Martin’s Court from Legal & General Property for £110m last November. 

Mitsubishi, Japan’s second-largest property developer is looking to exit its decade-long centrepiece London development, the 220,000 sq. ft. King Edward Court, in the coming weeks. 

The London Stock Exchange moved into King Edward Court in 2003, the current lease has another 15 years. 

The original development scheme was purchased by Mitsubishi in 1990 as part of a joint venture with Greycoat and US developer Park Realty for £15m the scheme was delayed due the property recession of the 1990s and was not completed until 2002, at a reported total cost of £340m. 

If you are looking for high quality serviced offices in Cannon Street, St Paul's or anywhere else in Central London, from leading providers, please contact Skyline Offices. Our specialist consultants are highly skilled in finding you fantastic serviced office space from our extensive portfolio of prime locations in Central London.