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News Release

London

​​​​JLL sells 55 Moorgate, EC2 for £50million


​LONDON, 2 February 2015 – JLL has sold 55 Moorgate, EC2 for £50million on behalf of Spanish property company Metroinvest, to Japanese property company Kajima Properties (Europe) Ltd achieving 11% above the asking price.

The 100% core freehold property comprises 66,505 sq ft and is currently let to BNP Paribas, with the investment bank set to leave in September 2016 when its lease expires.

Andrew Hawkins, director, City office investment at JLL said: “The property was marketed globally, with the help of JLL’s International Capital Group, as an asset with development potential and the ability to add additional floors. Investors very much recognised the impact of Crossrail.

“We received in excess of 10 bids, highlighting investor demand for development risk of this nature, and the price achieved reflects a record effective vacant possession value this cycle, for a property in excess of £750 per sq ft.”