Oxford Properties and Temasek have confirmed their purchase of the Blue Fin building, SE1, for £415m from Time Inc.
The 497,021 sq ft office on the South Bank is fully occupied. Time Inc has 160,000 sq ft of space in the building, other occupiers include Tableau, Totaljobs, Justgiving and Trinity College London.
Jeff Bairstow, executive vice president of Time Inc said: “We are very pleased with the outcome of this transaction. As part of the sale, we will lease back space at the Blue Fin building and it will remain our UK headquarters.”
Time’s predecessor, IPC Media, forward purchased the scheme in 2004 for £200m from Land Securities.
Cushman & Wakefield advised the purchasers.
