FORE Partnership, acting on behalf of funds managed by KKR, a leading global investment firm, has made a majority investment in TBC.London, a 110,000ft² development next to Tower Bridge. FORE is transforming an existing 1990s building on the bank of the Thames to create TBC.London, sustainable and healthy office space in the U.K. The workspace is anticipated to be 100% electric and net-zero carbon in operation, with no fossil fuels used in running the property. The project is targeting EPC A, BREEAM Outstanding, and WELL Platinum ratings, the highest possible assessments.
Basil Demeroutis, Manager Partner of FORE, commented: “TBC.London is an exemplary new type of work environment, set to drive positive, systemic change by linking together social and environmental outcomes, which in turn are deeply linked to positive physical and mental wellbeing among our tenants and the wider community. TBC.London will appeal to the new generation of occupiers who understand that a workspace is about much more than just desks and is a crucible of the culture and values of a business. The building has attracted global institutional capital, reinforcing our belief in the strength of the London office market and that this is exactly the kind of building that London needs now.”
Charles Tutt, Director and Head of UK Real Estate at KKR, said: “This investment aligns strongly with our thematic conviction in high-quality office space, our strategy of working with leading developers, and our commitment to sustainable development. We see strong demand from businesses for modern and sustainable office space which meets their evolving needs and we look forward to working alongside FORE to deliver this innovative and well-located development into the London market.”
