Another City tower in the offing? Brookfield buys the rest of 100 Bishopsgate
After things started to look up for The Pinnacle, there may be hope for another long-delayed City tower. Brookfield Multiplex has brought up the remaining stake in the tower it doesn't own from Great Portland Estates, suggesting work on the scheme, which was given planning permission almost a decade ago, might finally go ahead.
According to industry bible
Site was pieced together by GPE. Sold a half stake in March 2011 to BF. Subsequently sold our stake to 12.5 per cent. Building is a large tower… when we were owning a share of it we had 950k-1m sq ft. We always said we would only ever proceed with a prelet. To date we're not aware that has taken place. BF are the developer on the site as well. It's currently a large chunk of land. Old buildings have been demolished. They're
The arrangement that we have is that we have a put option that allows us to put the 12.5 per cent stake to BF P … had to exercise
any tenants?
Work on it…?
It would be unlikely that we would retain