Hermes Real Estate announces ‘Tech City’ Office Acquisition

August 27, 2013

Hermes Real Estate Investment Management Limited (HREIML) has completed the acquisition of Finsbury Tower, Burnhill Row, EC1 from middle eastern based owner HNS Group for a price of £67 million.

Finsbury Tower offers 153,000 sq ft of office accommodation with the building currently being 85 per cent let. Long term occupiers include the Care Quality Commission (CQC), Corus Group, Kaplan Financial, Walker Crips and Thomson Financial News. The building is located close to both ‘The Silicon Roundabout’ at Old Street to the north and Moorgate to the south.

HREIML was represented by Michael Elliott and DTZ. DE & J Levy acted for the HNS Group.

Chris Taylor, CEO of Hermes Real Estate Investment Management Limited said: “Only a stone’s throw from some of the most innovative tech companies in Europe, our primary aim will be to reposition Finsbury Tower to cater for this type of occupier. This may well include exploring refurbishment opportunities which, aligned with our investment ambitions, add value to the asset. As ever, it is our expertise on stock selection and pro-active asset management which will drive sustainable returns and unlock performance potential in this exciting, growth sub-market.”

Hussein Nuaman Soufraki , Chairman of HNS Group said:Finsbury Tower has been a successful development and long term holding in our portfolio. We wish HREIML success with its repositioning of the asset.

“With the Exit of its current UK property portfolio, HNS Group will expand its interests to the emerging markets of Libya and other North African regions while actively seeking new redevelopment investment opportunities in the United Kingdom.”

Latest News

TURNSTONE ESTATES SELLS SAFFRON WALDEN SITE TO OWNER OCCUPIER

April 9, 2021 - 14:12

Turnstone Estates has sold a 1.3-acre development site on Ashdon Road, Saffron Walden to tool and plant hire company GR8 who intends to build out 20,500 sq ft of commercial space of which about 7,000 [...]

+ Read More

ROB TUDOR TO SET UP NEW BUSINESS

April 9, 2021 - 14:11

Rob Tudor, one of the most high-profile UK investment agents, has left the business he established 25 years ago to set up a new agency, Tudor Real Estate (TRE),  with his daughter Abigail Tudor and[...]

+ Read More

HR OWEN AGREES TURNKEY DEAL WITH ARLINGTON AT HATFIELD BUSINESS PARK

March 23, 2021 - 11:27

Arlington has agreed a freehold turnkey deal with luxury and supercar dealer HR Owen Plc for a new showroom at Hatfield Business Park, Hatfield, Hertfordshire. Arlington has sold a five-acre plot to [...]

+ Read More

CONTACT

CALL US

+44 (0)20 7647 4420

ADDRESS

Wren House, Garden Close Lane, Newbury RG14 6PR