MGPA, the independent private equity real estate investment advisory company, is pleased to announce that on behalf of MGPA Europe Fund III it has successfully signed the Financial Ombudsman Service to its Docklands office building, Exchange Tower.
The Financial Ombudsman Service will take 165,000 ft² (approx. 15,300 m²) on a 15-year lease from 2014. MGPA acquired the 482,000 ft² office building in 2010 and has comprehensively refurbished the building, including new offices, landscaping, coffee shop and reception area.
Andrew Rose, Vice President at MGPA, said: "Our vision for Exchange Tower has been to reposition the building through refurbishment to create a unique product offering 30,000 ft² floorplates, with compelling occupancy costs in a contemporary building.
"We are delivering a full turnkey solution for the Financial Ombudsman Service. Exchange Tower has all of the facilities associated with new developments but at a more affordable rent".
MGPA was advised by CBRE and Cherryman.
Source: Citigate Dewe Rogerson