Henderson Park, the international real estate investment manager, has acquired 70 Fenchurch Street, EC3, from Lloyd's Register Group in a move that signals continued confidence in the City of London office market despite ongoing debate about the future of traditional office space in the post-pandemic era.
The 2000-built Rogers Stirk Harbour + Partners-designed building spans 13 storeys and two basement levels, totalling 19,974 m² with floor plates ranging from 465 m² to 2,044 m². Situated adjacent to Fenchurch Street Station and within walking distance of five Underground stations, the property occupies one of the City's most connected locations.
YardNine, one of central London's leading office developers, will manage the comprehensive repositioning to deliver Grade A accommodation. The refurbishment will feature a reimagined arrival experience, new roof terraces, end-of-trip facilities and significant ESG enhancements, with completion targeted for 2028. Notably, the project's timing positions it to capture the anticipated 2027-2028 wave of City lease expiries, when an estimated 1.5 million m² of office space comes up for renewal, creating a potential supply-demand imbalance that could benefit premium product.
To preserve the building's award-winning character, RSHP will return as architect alongside Arup, both having worked on the original design for Lloyd's Register.
"This acquisition exemplifies our thesis of investing in well-located city centre assets with strong fundamentals. Working with YardNine, we will undertake targeted capital expenditure to modernise 70 Fenchurch Street, delivering Grade A space in the City of London office market that presents a compelling dynamic of strong occupier demand and limited supply," said Christophe Kuhbier, Head of Investments, Europe, at Henderson Park.
Maxwell Shand, Director at YardNine, added: "The opportunity to deliver a fantastic rejuvenation of this iconic building in the EC3 market for occupation in 2028 is extremely exciting. Fenchurch Street and EC3 are sub-markets that YardNine knows well, and we look forward to delivering this project alongside Henderson Park."
Henderson Park and YardNine were advised by Savills and A&O Shearman. Lloyds Register were advised by CBRE and Herbert Smith Freehills Kramer.
People mentioned:
Christophe Kuhbier, Head of Investments, Europe, Henderson Park
Maxwell Shand, Director, YardNine
Companies mentioned:
- Henderson Park, Real estate investment manager
- YardNine, Property developer and asset manager
- Lloyd's Register Group, Seller
- Rogers Stirk Harbour + Partners, Architect
- Arup, Engineer
- Savills, Advisor
- A&O Shearman, Legal advisor
- CBRE, Advisor
- Herbert Smith Freehills Kramer, Legal advisor
