The property, formerly the European HQ of Merrill Lynch (now BlackRock), was a vacant 1980s office block situated on a prominent freehold island site in the City of London. Having reached the end of its operational life, planning permission had been secured for a 220,000 sq ft redevelopment. The building was to be sold with vacant possession within a tight timeframe.
We delivered a comprehensive, time-sensitive marketing campaign targeting both established local developers and new international entrants. We coordinated presentations, property inspections and managed the bidding process to foster a competitive environment.
By leveraging the site’s prime location, favourable market conditions and development potential, we achieved strong market exposure. The asset sold for over £62.5 million to an overseas new market entrant following a highly competitive bidding process.
We were subsequently appointed as joint leasing and investment advisors for the redevelopment scheme. In 2018, the completed 225,000 sq ft BREEAM Excellent-rated development was successfully sold to Wells Fargo & Company as their new London headquarters.
