FCA’s Canary Wharf Building Said to Be Offered for $297 Million
Evans Randall Ltd. is seeking to sell the headquarters of the U.K. Financial Conduct Authority, the markets regulator, in London’s Canary Wharf district. The asking price is about 180 million pounds ($297 million), according to a person with knowledge of the matter.
Capital Real Estate Partners LLP is handling the sale of the building at 25 North Colonnade, which has 362,000 square feet (33,600 square meters) of space, Evans Randall said today in a statement, without disclosing the price. The person familiar with the matter asked not to be identified because the information is private.
The amount of office space leased by companies in Canary Wharf is increasing as confidence returns to London’s financial markets. Companies agreed to lease 637,000 square feet of space in the district last year, 54 percent more than in 2012, according to broker Savills Plc. (SVS)
“Given London’s enduring appeal as a real estate investment location and the significant upturn in the Canary Wharf occupational market since the start of 2014, we believe this is an appropriate time to seek a buyer for this well-located asset,” Paul Kendrick, chief financial officer of Evans Randall, said in the statement.
The Canary Wharf building was constructed in 1991, according to Real Capital Analytics, a data provider. Evans Randall, based in the U.K. capital, also owns a 50 percent stake in the City of London tower known as the Gherkin.
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