Hayfin Capital Management and Capreon have acquired 280 Bishopsgate in the City of London for an undisclosed price.
The 13-storey, Grade A office building, which is located close to Liverpool Street station, was formerly the headquarters of the Royal Bank of Scotland and underwent a comprehensive redevelopment in 2022.
The property is currently fully let to occupiers including global law firm Baker McKenzie, Aberdeen Asset Management and Cognizant.
Carlos Colomer, managing director in the private credit team at Hayfin, said: “280 Bishopsgate is an exceptional building in one of the best-connected locations in the City, complementing our recent acquisition of 70 St Mary Axe with Capreon. Its recent refurbishment has delivered some of the highest quality and most sustainable workspace in London, which is reflected in the calibre of its tenants. We are pleased to be partnering with Capreon once again and look forward to supporting the building’s continued success.”
Raphael Noé, CEO of Capreon, added: “We are pleased to be investing in 280 Bishopsgate, a landmark City office tower that reflects the quality and long-term value we seek across our portfolio. Following its full redevelopment in 2022, the building offers prime, high-specification workspace and a long, reversionary income profile. We are delighted to be working with our long-term partner Hayfin again, following our acquisition of 70 St Mary Axe last year, and to have completed a smooth transaction.
“Demand for best-in-class City workspace continues to grow, and we see a clear opportunity to apply our asset and investment management expertise to enhance the building’s performance and appeal to occupiers. On a personal note, there is a nice circularity to this one: my grandfather, Solomon Noé, owned the freehold of 280 Bishopsgate over two decades ago.”
Macfarlanes acted as legal and tax adviser and Knight Frank acted as commercial due diligence adviser to Hayfin and Capreon. Santander and Caixa provided debt financing for the transaction.
