Tishman Speyer has completed the off-market acquisition of 50 Pall Mall in the heart of London’s St James’s from Lazari Investments for an undisclosed price.
Originally constructed in 1913, the building was redeveloped in 1997 and refurbished to a Grade A standard in 2006. Currently 87% let, 50 Pall Mall comprises 33,888 sq ft of office space across nine floors with average floorplates of circa 4,000 sq ft.
Tishman Speyer intends to undertake a full refurbishment to modernise the building, including upgrading its ESG credentials and enhancing the on-site amenity provision.
Martin Simonneau, managing director and regional director for Tishman Speyer UK, said: “50 Pall Mall represents a rare opportunity to acquire a prime office asset and leverage our placemaking and development expertise to deliver best-in-class workspace in one of London’s most sought-after locations.”
