US developer-investor Hines has put its Cannon Place office development in the City of London on the market after securing a pre-let of 15,000 sq ft (1,400 m2) from the Bank of London & The Middle East.
US developer-investor Hines has put its Cannon Place office development in the City of London on the market after securing a pre-let of 15,000 sq ft (1,400 m2) from the Bank of London & The Middle East.
CBRE and Savills have been appointed as joint sales agents for the 418,000 sq ft (39,000 m2) project.
The latest lease agreement means Cannon Place will be 80% let, with a tenant mix including CMS Cameron McKenna, the CBI, Franklin Templeton Investments, Columbia Threadneedle Investments and i2 Offices.
'Cannon Place is a landmark City office development in a core location with a premium tenant mix and a rare weighted-average unexpired lease term of over 15 years,' said Ross Blair, senior managing director and head of Hines UK. 'Now that the building is close to being fully let, we believe this is the time to bring this significant development to the market. We’re expecting strong investor demand and we’re looking forward to opening up a dialogue with interested parties in the coming weeks.'
Hines' UK portfolio of assets under management includes Sixty London, 25 Cabot Square, One Westferry Circus, One Bartholomew Lane, The Centre, Livingston and Brindleyplace, Birmingham.
