A limited partnership owned and controlled by a Middle Eastern private investor has bought Canary Wharf Group’s long leasehold interests in 5 Churchill Place for Â£208 million.
The building was only recently completed and was designed by HOK International. It comprises of 314,000 square feet of office space spread over 12 floors with a rent of around Â£44.50 per square foot. The majority of 5 Churchill Place – 10 floors of 262,000 square feet – is currently let to JP Morgan Markets. Canary Wharf Group is providing rent cover for the two currently unlet floors – 52,000 square feet of space – at Â£2.16 million for a maximum period of 5 years. (more…)