Hines has acquired the 139,000 sq ft Worship Square office building in the City of London from HB Reavis in an off-market transaction.
The Grade A office building, which is located at 65 Clifton Street, was completed by HB Reavis in 2024 and is 97% leased to occupiers, including Wise and Frontier Economics.
The lower ground and basement floors are occupied by HB Reavis’ flex brand HubHub and 3,800 sq ft of retail space is currently available to let on the ground floor of the building.
Alfonso Munk, global co-head of investment management at Hines, said: “We are delighted to make this acquisition at a time when compelling demand-supply dynamics for prime office space in London have created an extremely favourable backdrop for rental growth. Occupiers are demanding high quality, amenity-rich office space in the city’s best locations, and this building delivers on every front. Our research shows a growing bifurcation between best-in-class offices and the rest, and Worship Square positions us firmly on the right side of that trend.”
Steven Skinner, CEO of HB Reavis Developments, added: “Worship Square is a landmark, multi-award-winning UK project that embodies our long-held strategic focus delivering highly sustainable and healthy workplaces that put the occupier at the heart. The calibre of occupier and attracting a near 100% occupancy at building completion is testament to the quality of development. The completion of the asset sale to Hines enables additional capital to reinvest into our existing development pipeline.”
