Tower 42 sale to spark flurry of big City property deals
The £285 million sale of London's iconic Tower 42 to South African property billionaire Nathan Kirsh today heralded a frantic burst of wheeler-dealing on City property in the weeks ahead.
Kirsh's swoop for the former NatWest headquarters, for years Britain's tallest building and host to Michelin-starred chef Gary Rhodes' restaurant, comes as foreign money seeking a safe haven continues to flood into the capital.
Bidders are also circling the £1 billion portfolio of London properties put up for sale in September by German property fund KanAm, including Deutsche Bank's Winchester House UK headquarters and Thomson Reuters' European base at Canary Wharf.
The sale is being handled by agent Knight Frank and a winner is set to emerge before Christmas.
The 607 ft Tower 42, designed to look like the NatWest logo from above, has been on the market since April last year.
Owners Blackrock UK Property Fund and LaSalle Investment Management nearly struck a deal with Chinese billionaire Joseph Lau last year but it fell through.
