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Redevco pays £70m for One Tower Bridge’s F&B units
Transactions - SEPTEMBER 5, 2019

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Redevco pays £70m for One Tower Bridge’s F&B units

by Kali Persall

Pan-European real estate investment manager Redevco has acquired the predominantly food and beverage (F&B) commercial units of the new mixed-use One Tower Bridge development in London for £70 million ($77 million).

The seller was the Berkeley Group.

The property is topped by residential apartments and faces London’s iconic UNESCO landmark that spans the River Thames. It comprises 7,720 square meters (83,097 square feet) of retail, restaurant and cultural space, with 11 F&B and two retail units, as well as London’s largest commercial theater, Bridge Theatre.

The building is situated near offices, local high-end residential developments, and Potters Field, a communal park, which hosts events throughout the year. It is also close to the 53,000-square-meter (570,487-square-foot) More London office complex, which encompasses multiple corporate offices, along with the London Mayor’s Office (City Hall) and ground-floor shops, restaurants and cafes.

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