Partners Group to build £200m office building in London
Partners Group, the global private markets investment manager, is developing a class A office building at 80 Fenchurch St. in London on behalf of its clients.
Its joint venture development partner is Marick Real Estate, and the total project costs are expected to be £200 million ($307.97 million).
The 80 Fenchurch St. location is close to transport links and other amenities in the City of London. The development project will include the demolition of an existing vacant building on the site, which is due to take place at the end of June. Construction of the new building will begin in early 2016, with completion expected by first quarter 2018. The new building will be a 14-story, 245,000-square-foot office building offering class A office space with design features including a series of tiered roof gardens.
The transaction follows Partners Group’s announcement of raising more than $850 million for investments on behalf of its clients in corp