Henderson Park has agreed a deal to purchase 70 Fenchurch Street in the City of London from Lloyd’s Register Group for an undisclosed price.
Lloyd’s Register’s HQ, which was designed by Rogers Stirk Harbour + Partners (RSHP) and built in 2000, provides 215,000 sq ft of space over 13 storeys and two basement levels.
Henderson Park and YardNine will undertake a comprehensive repositioning of the asset to provide Grade A office accommodation. The repositioning will include a reimagined arrival experience, new roof terraces, end-of-trip facilities and significant enhancements to the building’s ESG credentials. The project is targeted to complete and to be ready for occupation in 2028.
RSHP will be appointed as architect on the project alongside Arup, both of whom worked on the building’s original design for Lloyd’s Register.
Christophe Kuhbier, head of investments, Europe, at Henderson Park, said: “This acquisition exemplifies our thesis of investing into well located city centre assets with strong fundamentals. Working with YardNine, we will undertake targeted capital expenditure to modernise 70 Fenchurch Street, delivering Grade A space in the City of London office market that presents a compelling dynamic of strong occupier demand and limited supply.”
Maxwell Shand, director at YardNine, added: “The opportunity to deliver a fantastic rejuvenation of this iconic building in the EC3 market for occupation in 2028 is extremely exciting. Fenchurch Street and EC3 is a sub-market that YardNine knows well and we look forward to delivering this project alongside Henderson Park.”
Henderson Park and YardNine were advised by Savills and A&O Shearman. Lloyds Register was advised by CBRE and Herbert Smith Freehills Kramer. Lloyds Register returned to its original historic home at 71 Fenchurch Street earlier this year.
