London Office space to be sold by The Carlyle Group.
BSI Tower to be purchased in a joint venture between Canmoor and Harbert.
The Carlyle Group are selling the BSI Tower office building in Thames, London.
The building covers 140,000 square feet and has been acquired by private equity investors Harbert and property developer and asset management company Canmoor for around £29 million.
The deal is a slight departure for Canmoor as they usually focus on industrial and asset development. However, it has acquired office space in the past when it formed joint ventures with Korine Property Partners to buy 100,000 square feet in Aldwych House located in a business park in Denham.
The BSI Tower is currently being leased out to management and business improvement systems company BSI Management Systems. The Carlyle Group are currently leasing the space for around £22 square feet on a contract that expires in five year’s time.
This is not the first joint venture between Harbert and Canmoor as they have acquired 2.1 million square feet of space over four multi-let industrial estates from Sergo 18 months ago.
In other London office space news, property development company Hammerson has applied for permission to develop 500,000 square feet of office space to be located in the heart of London.
The company are already seeking out pre-lets for the offices and aim to have the development completed by 2014. Hammerson hope to build two buildings that would contain trading floors and offices. They are also seeking pre-lets for a 600,000 square feet of office space in Bishops Place alongside this project.
Hammerson are one of the largest European real estate companies that primarily focus on property development. The company owns some of the largest shopping centres in Europe including the Birmingham Bullring.