The City of London’s iconic Tower 42 has been put for sale with a price tag of £290 million.
The tower at 25 Old Broad Street, originally known as the NatWest Tower, is one of six buildings in the City being put up for sale by owners Blackrock and LaSalle Investment Management.
“With limited supply and increasing demand exerting upward pressure on rents in the City market, investors can anticipate strong returns and considerable long term growth potential,” said Jeff Morton, managing director at Blackrock.
When building of the tower was completed in 1980, it was London’s – and the UK’s – tallest building; a badge of honour it kept for ten years until it was overtaken by the One Canada Square at Canary Wharf.
PropertyWeek.com lists the other buildings up for sale as:
- 20 Old Broad Street (36,000 sq ft)
- 30 Old Broad Street (49,000 sq ft)
- the Plaza Restaurant (3,500 sq ft).
- 15 Bishopsgate (46,000 sq ft)
- the grade I-listed Gibson Hall (13,000 sq ft).