Drapers Garden London office sale talks 'underway'
Talks are underway regarding the sale of the Drapers Garden building in the City of London, reports suggest.

Evans Randall acquired the City offices for £242.5 million in 2010 and is now discussing the possibility of selling up for £285 million with American real estate investment trust Boston Properties, CoStar News says.

There were believed to be two other buyers - St Martins Corporation and pension fund Samsung - looking to purchase the building last year, but nothing came of their reported interest.

Rental uplifts at five-year intervals agreed by tenant Blackrock are believed to be reflected in the potential £285 million price of Drapers Garden.

Located on Throgmorton Avenue, the building has 292,418 sq ft of floor space and a lease expiry date of February 2035.

Evans Randall also has office investments elsewhere in the City - including the Gherkin, 33 Old Broad Street and Riverbank House - and in Canary Wharf and the Thames Valley.

Posted by David Hudek

News provided by Adfero in collaboration with Mellersh & Harding. Please note that all copy belongs to (c)Adfero Ltd and does not reflect the views or opinions of Mellersh & Harding unless explicitly stated.ADNFCR-2799-ID-801304057-ADNFCR Back


Contact Mellersh & Harding

Call us on +44 (0)20 7522 8500

Email Us Directly

What our clients say

"What made dealing with Mellersh & Harding LLP a pleasure was the response time on queries from all parties and the way in which they...

Tom Catton, Book Tokens Ltd

What our clients say

"Proactive and responsive...you get the impression that they are enjoying what they do and that it feeds through and makes it a much more pleasant environment to work in..."


What our clients say

"Paul Brewster’s background combined with his enthusiasm for personally getting involved with the tasks at hand made him the best route in resolving my company’s..."

Graham Begg, Film Tree

D2 Interactive