20 Cannon Street, London

This property was acquired in 2010 and sold in 2012 after an extensive refurbishment.  It is located in London’s financial district, one of the most vibrant business locations in the world, and occupies a prominent island site with outstanding views of St Paul’s Cathedral. 

The site presented an opportunity to develop an iconic, BREEAM ‘excellent’, headquarters building for delivery to the market when new office completion levels were at historic lows.  The development consisted of stripping back the existing building to shell and core, re-cladding the facade with floor to ceiling glazing, and creating 40,000 sq ft of high specification office space.

Investment Rationale & Strategy 

  • Asset reflected a high value-add potential when acquired in 2010 as an off-market deal
  • Prime City of London location with exceptional views
  • Extensive refurbishment created high specification office space, ideal for a single occupier, headquarter building
  • The property’s 40,000 sq ft. was fully pre-let to Odgers Berndtson before it was sold in 2012