Abu Dhabi Investment Authority currently owns 80% of the freehold and Aviva Plc holds 20%. Last year the Middle Eastern fund paid Hermes £30 million ($49 million) for a 12% stake in the 320,000 sq ft block located at 1 Undershaft, EC3.
The building was badly damaged by an IRA bomb in 1991, refurbished in 1994 and rebranded last year. It now mostly comprises offices with retail and leisure on the ground floor and medical uses on the 12th floor. The offices are multi-let with the biggest tenants being Amlin (44,000 sq ft), Aviva (76,000 sq ft) and Morgan Stanley (27,000 sq ft).
There is just under 30,000 sq ft available to let at about £50.30 per sq ft ($82.33).
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