Iconic offices up for sale in the City of London

Posted on by Rob Powell

The owner of the iconic Tower 42 in the City of London has put it up for sale with a price tag of £290 million.

The former Natwest Tower is one of a clutch of large office properties in the City which have been put on the market by Blackrock and LaSalle Investment Management.

Tower 42, which is at 25 Old Broad Street, was Britain’s tallest building throughout the 1980s following its completion at the start of the decade.

It was eventually overtaken by the One Canada Square tower in Canary Wharf.

The other office buildings in the City that Blackrock and LaSalle are selling are in Liverpool Street and Bishopsgate, with two more in Old Broad Street.

“With limited supply and increasing demand exerting upward pressure on rents in the City market, investors can anticipate strong returns and considerable long term growth potential,” said Jeff Morton, managing director at Blackrock.

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