City offices at Tower 42 bought for £282.5m
Tower 42 - one of the most prominent skyscrapers of City offices - has been acquired by a South African commercial property investor.

Nathan Kirsh has purchased the former NatWest Tower for £282.5 million from LaSalle Investment Management, BlackRock and the Hermes Property Unit Trust.

Located in EC2, Tower 42 on Old Broad Street is close to the Aviva Tower and the Gherkin, as well as the Bank of England and the Lloyd's Building.

Nearby financial services occupiers include Deutsche Bank, HBOS, Swiss Re, the Royal Bank of Scotland and UBS.

The purchase is the first Mr Kirsh has made since he sold a 30 per cent share in developer Minerva in the summer of this year for approximately £50 million.

BlackRock's head of real estate for Europe, the Middle East and Africa Marcus Sperber commented: "The sale of this trophy building and its 2.2-acre estate is a landmark deal for the London City office market to end the year."

Posted by Sarah Dudley

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