Redevco grabs One Tower Bridge commercial units for £70m
Redevco has bought the food and beverage (F&B) commercial units of the new mixed-use One Tower Bridge development in London for £70m (€78m) from the developer Berkeley Group.
The retail real estate manager said the property acquired at One Tower Bridge on the south bank of the Thames river, comprises 7,720sqm of retail, restaurant and cultural space, with 11 F&B and two retail units, as well as the Bridge Theatre.
Andrew Vaughan, CEO Redevco, said Redevco is constantly on the lookout for opportunities aligned with changing consumer spending patterns and a growing focus on leisure such as mixed-use and F&B-led investments.
“London ranks as a leading global destination in this respect and this location, adjacent to Tower Bridge, encapsulates the key elements we are looking for in our experience-led investments.
”It is situated next to a world-class tourist attraction, which is a magnet for large numbers of visitors. The location also benefits from the footfall from offices and local high-end residential developments in the area.”