BBG client completes landmark sale next to London’s Tower Bridge -

BBG client completes landmark sale next to London’s Tower Bridge

11th May 2021

Tower Bridge Quarter SE1 London Offices

BBG client completes landmark sale next to London’s Tower Bridge

On behalf of its client City of London Corporation, as Trustees of The Bridge House Estates, BBG is pleased to announce the completion of the freehold investment sale of Tower Bridge Quarter SE1 a 41,000 sq.ft. parade of 9 period, mixed use office, retail and leisure buildings, let to 15 tenants and located on the approach to London’s iconic Tower Bridge.

The sale was particularly notable as the marketing had to be carried out almost entirely using virtual marketing during the Covid Lockdown, with highly restricted access for viewings. A comprehensive digital marketing campaign was implemented to ensure a broad reach, together with effective targeting of all interested investors, with full online dissemination of an array of due diligence documents. After competitive bidding , terms were agreed with Milton Group at £14.30M, 5.90% and the sale was completed on schedule thereafter.

BBG Partner, Tom Boggis commented “We are delighted to have realised the sale of this important investment asset. The restrictions on marketing created by the pandemic were challenging as strict health and safety protocols needed to be observed and the resultant delays involved conducting the marketing around Christmas and in a lockdown. We were pleased to identify a very solid core of interest in a challenging investment market and that The Corporation’s team and BBG worked seamlessly to produce a highly satisfactory result.”