Alternative investment firm SIGNAL and W.RE have acquired 10 Lime Street in the heart of the City of London from global reinsurer SCOR for an undisclosed price.
Designed by Rolfe Judd, the 54,611 sq ft asset comprises office and retail accommodation arranged over lower ground, ground and seven upper floors. The building, which was marketed for £30m, occupies a prominent corner position at the junction of Lime Street and Leadenhall Place, adjoining Leadenhall Market.
SIGNAL and W.RE will carry out a full refurbishment of 10 Lime Street and are targeting an EPC A rating in addition to other ESG certifications. W.RE will be responsible for managing the delivery of the refurbishment.
Colman McCarthy, partner, real estate investment at SIGNAL, said: “Our ability to identify the opportunity early and act quickly enabled us to secure this prime asset at highly competitive pricing. Ten Lime Street is a standout building in one of London’s strongest office submarkets, where an acute lack of supply, low vacancy rates and significant rental growth create an exciting opportunity for us. Its prime location, strong transport links and high-quality space underpin the resilient demand we continue to see for well amenitised offices in the City. With W.RE, we see clear potential to further enhance the asset so it continues to meet the needs of modern occupiers and attract top-tier tenants, supporting long term rental growth.”
Andrew Haines, COO of W.RE, added: “We are thrilled to embark on this partnership with SIGNAL on such a landmark asset. Ten Lime Street offers an exceptional opportunity to create a best-in-class office building in the heart of the City. Our refurbishment plans will deliver Grade A specification, EPC A and full ESG certification, ensuring the building meets the highest standards of sustainability and occupier experience. With new terraces, enhanced tenant amenities, and a focus on quality, we are confident this project will set a benchmark for modern workspace in a market where prime space is in short supply.”
