A deal to acquire a skyscraper of south London offices
has fallen through, resulting in the asset coming back on to the market.
Plans made by a Nicholas Cowell-led syndicate to acquire Tolworth Tower have been scrapped, meaning the building is still in administration, CoStar News reported.
Tolworth Tower was given a guide price of more than £40 million last year, with BDO acting as the administrator on behalf of Targetfollow subsidiary Stevenor Investments.
It is let to 30 tenants and presently has an annual rental income of £3,833,185, the publication noted.
Available suites of London offices
range from 305 sq ft to 8,445 sq ft, with almost 200,000 sq ft of such space in total.
The tower is also home to a Travelodge, Marks & Spencer, other retail space and car parking facilities.
Current occupiers of the offices include HM Revenue and Customs, The Crown Prosecution Service, Close Asset Finance and Partridge Muir & Warren chartered financial planners.
CoStar News revealed that despite opportunities to boost the income of the asset, the main equity investor in the syndicate dropped out of discussions.
Posted by John Evans
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