US developer Tishman Speyer has swooped on the Economist Group’s headquarters.
Economist Plaza, a three-building, mixed-use complex at 25 St James Street, W1, was marketed by JLL for offers in the region of £132.5m.
The Economist Group will lease back space on the top four floors for 18 months.
The deal is Tishman Speyer’s fourth London acquisition in two years, following the 2015 purchase of 100 New Oxford Street, WC1, and the 2014 acquisitions of Sainsbury’s headquarters at 33 Holborn, EC1, and the Point in Paddington, W2.
The 81,623 sq ft complex was designed by Peter and Alison Smithson and contains offices, homes, a gallery, restaurant and shops.
Dan Nicholson, head of UK office at Tishman Speyer, said: “Economist Plaza is extremely well situated. We look forward to repositioning this property as a best-in-class West End office destination.”
• To send feedback e-mail shekha.vyas@estatesgazette.com or tweet @shekhaV or @estatesgazette
