A private family trust is buying communications group Inmarsat’s 165,000 sq ft London office for around £70m.
Inmarsat bought the freehold of 99 City Road, EC1 – which was developed in 1991 by Helical Bar - from BP for £46.5m in 1991.
It will now take a 25-year lease at £4.5m pa, equating to £27.50 per sq ft, with a break in the 20th year.
Egan Lawson is advising Inmarsat.
References: EGi News 30/07/04
