55 Mark Lane

Address55 Mark Ln, Tower, London EC3
Size14,892 m2 / 160,300 sq. ft.
Acquisition Pricec.£128,000,000
Goldstone Main RolesAcquisition, Financing, Asset/Development Management, Project Management
Responsibilities
  • Advise on the acquisition of a multi-let City core office c.£128m, which was valued at c.£150m by Q1 2020.
  • Arrange 65% debt finance prior to acquisition completion
  • Appoint Knight Frank as building manager on daily operation and management
  • Create and manage the asset management business plan and implement agreed asset strategies
  • Explore roof extension feasibility and planning application and appoint professional teams on development.
  • Achieved positive pre-app feedback on roof extension and retail expansion which are more than 30% of NIA sq. ft, currently working on long block day by 2027 to carry out development.
  • Liaise with tenants, negotiate on rent review/lease renewal/re-gearing, successfully removed break options, agreed on significant rent increase, regeared leases to the target dates.
  • Quarterly reporting including the financial and operational performance with market analysis
  • Review current M&E performance, PPM programme, development M&E refurbishment/replacement plan over the next 5 years

55 Mark Lane occupies a prominent position, with a 70 metre frontage, on the eastern side of Mark Lane, which links Fenchurch Street to the north and Great Tower Street to the south. The property is in close proximity to some of the City’s most historic and globally recognisable buildings including Lloyd’s of London, 30 St Mary Axe, 20 Fenchurch Street and the Leadenhall Building.

The immediate location has attracted some of the world’s leading global insurance firms and financial institutions including Amlin, AIG, Aon, Aviva, Hiscox, Markel, QBE, SwissRE, WR Berkley and Willis, but also leading professional and TMT companies. In addition, immediately to the east, the area surrounding the Tower of London has emerged as the City’s primary hotel district with the Four Seasons at Ten Trinity Square, the Double Tree by Hilton on Pepys Street and the Citizen M hotel above Tower Hill station.

Fenchurch Street and Tower Hill stations are within 300 metres of 55 Mark Lane providing excellent transport links with access to the London Underground network and National Rail services.

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