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October 12, 2012
One of London’s Most Expensive Office Buildings in Receivership.
The Citypoint building at 1 Ropemaker Street, home to the international law firm Simmons and Simmons, has gone into the hands of receivers KPMG, due to increased vacancy.
The building covers 703,382 sq ft and is one of London’s tallest commercial buildings, and at the time of sale in 2007, was the most expensive office block in the UK achieving a price of £650 million. It was bought for a price of £500 million two years prior to this sale. The building offers 612,600 sq.ft (56,912 m²) of grade A office space and 27,500 sq.ft of retail.
The building must be sold by 2017.