Real estate investment manager Henderson Park has acquired the 70 Fenchurch Street office building in the City of London from Lloyd’s Register Group.

Henderson Park said it plans to refurbish the 215,000sqft EC3 asset, built in 2000, into a grade-A office. The project, managed by YardNine, is expected to be completed and to be ready for tenants in 2028.

Financial details were not disclosed.

Christophe Kuhbier, head of investments for Europe at Henderson Park, said: “This acquisition exemplifies our thesis of investing into well-located city-centre assets with strong fundamentals.

“Working with YardNine, we will undertake targeted capital expenditure to modernise 70 Fenchurch Street, delivering grade-A space in the City of London office market that presents a compelling dynamic of strong occupier demand and limited supply.”

Maxwell Shand, director at YardNine, said: “The opportunity to deliver a fantastic rejuvenation of this iconic building in the EC3 market for occupation in 2028 is extremely exciting. Fenchurch Street and EC3 is a sub-market that YardNine knows well and we look forward to delivering this project alongside Henderson Park.”

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