Mitsubishi Estate Company the joint developers and owners of Bow Bells House with Mitsubishi Corporation, has sold the building to an overseas private investor client of Constanti Real Estate and Gresham Down for in excess of £140 million (167 mln.). Bow Bells House is a landmark City office and retail property that totals c. 165,000 ft² (15,280 m²), located on the junction of Cheapside and Bread Street in the heart of the City of London.
Mitsubishi Estate Company UK managing director Masami Amano said: "We are very pleased to have concluded such a successful transaction for both parties. Mitsubishi Estate Company is a committed long term UK investor. This opportunistic realisation of value was taken to enable us to undertake further UK development. We are currently looking across the City and West End for development opportunities of a similar size and quality to our Central Saint Giles scheme in Covent Garden."
Cushman & Wakefield and DTZ advised the vendors.
Source: MJ2 Limited