Henderson Global Investors is considering working up a new scheme for the Leadenhall Triangle development, following its £190m acquisition of the EC3 site this week.
Henderson made a pre-emptive bid for the site and exchanged contracts after it was placed into administration last year. However, it was then marketed to more than 60 parties to ensure the highest price was achieved.
The fund manager has bought the assets on behalf of three funds: Canadian sovereign wealth fund AIMCo, the Central London Office Fund and Central London Office Fund II.
Henderson said it was not ruling out a new development on the site, which is currently occupied by five buildings totalling 460,000 sq ft.
Nick Deacon, fund manager at Henderson, said: “We are confident that we will be able to unlock significant value from the site, whether that be wholesale redevelopment or the refurbishment and active management of the existing buildings.”
PwC was appointed in November following defaults by clients of Investream on the £172m loan secured against the assets. Cooke & Powell was then appointed strategic property adviser by special servicer Hatfield Philips International.
Mark Batten, partner at PwC, said the sale represented “the best price that could have been achieved in the circumstances”.
