Oxford Properties eyes 10 Paternoster Square in £230m purchase

Posted by: Victor Pardis on 25th April 2013
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. 

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