Henderson Park has bought abrdn’s 100 Leman Street, E1, for £60m.
The 95,000 sq ft office building, in the heart of Aldgate’s tech city area, will be added to Henderson Park Real Estate Fund I.
The 100% let building’s two main tenants are tech businesses, with Exponential-e providing cybersecurity services, while Forward 3D is a digital marketing agency.
The seven-storey building has floorplates of between 12,500 sq ft and 15,500 sq ft, along with a basement for changing rooms, showers and bicycle facilities. It also has a top-floor terrace to which Henderson Park plans to add a roof garden.
The property offers longer term potential for a full refurbishment and an extension of the western elevation, including the construction of an eighth floor, subject to the necessary consents, adding up to 50,000 sq ft of office space.
Henderson Park managing director, Mrinal Jalan, said: “100 Leman Street provides high-quality, modern space, while the potential to extend the asset offers an exciting opportunity to create additional value in the longer term. We hope to further improve the environmental credentials, working with our occupiers to help them maximise the benefits of our extensive ESG proposals as part of our wider refurbishment plans. We have a strong conviction in London’s future prospects as a global centre of business and in this property’s ability to deliver an attractive return for our investors.”
He added that, while working patterns have changed over the last year, well located office space has remained in demand. “Prolonged lockdowns have helped occupiers understand the central role offices play in fostering culture, teaching junior team members, as well as promoting creativity and efficiency.”
Henderson Park has purchased 100 Leman Street with Dukelease, which is their second deal together following the acquisition of Ibex House in 2019.
Abrdn was advised by Allsop.
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