Landmark City office scheme comes to market

Offices of West LB at Woolgate Exchange to be marketed for £290m

Article posted: 08 Nov 2011

Jones Lang LaSalle and Knight Frank have been appointed by the owners of Woolgate Exchange, 25 Basinghall Street, EC2 for £290 million.

Originally developed in 2000 by MEPC Plc, Woolgate Exchange is one of the City’s best known landmark buildings.

The property comprises in excess of 350,000 sq ft of highly specified office space in the City of London, EC2 and occupies one of the largest sites extending to c. 1.67 acres. Adjoining the Guildhall, this prime asset is within 200 metres of Moorgate’s Crossrail station and 150 metres of the Bank of the England. 

The award winning Headquarters building is fully let to West LB AG until the end of 2020 at a rent of £16,743,686 per annum equating to £47.70 per sq ft overall. The building is 351,263 sq ft of highly specified office and ancillary accommodation over three basement levels, ground and eight upper floors.

The agents commented: “Woolgate Exchange comprises one of the largest freehold headquarter buildings in such close proximity to the Bank of England to be offered for sale this cycle. The building provides a superb specification, large floorplates and a rare opportunity to buy one of the finest office investments in the core of the City of London.”

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Posted by Sam