Key Details

Overview

Ludgate London at 1 Ludgate Circus/55 Ludgate Hill is an office development in the City of London EC4.

The building was comprehensively refurbished in 2020 in conjunction with John Robertson Architects to include new building services, lifts and a 4th-floor terrace. The building has been awarded a BREEAM sustainability rating of “Excellent”.

The office accommodation covers 8,700 sq m of space from the ground floor up to the penthouse level on the 5th floor. There are also two terraces on the 4th and 5th floors with a combined area of 500 sq m. The remaining space is earmarked for retail, restaurants and storage. The basement contains 141 bicycle parking spaces plus changing rooms and showers. The highlight of the building is that tenants enjoy an unobstructed view of St Paul’s Cathedral.

Situated on Ludgate Circus on the western side of the City of London, it is close to St Paul’s Cathedral and the Old Bailey.

History

2020 June - Union Investment acquires Procession House at 55 Ludgate Hill, London from Goldman Sachs Merchant Banking Division and Greycoat. The acquisition of the office property is being made for the portfolio of open-ended real estate fund UniImmo: Europa. The purchase price was not disclosed. After Watermark Place and The Copyright Building, Procession House is the third investment in London for UniImmo: Europa, and the fourth investment in the UK. Following the acquisition, the UK share of fund assets has increased from 6.95 to 8.0 per Cent. In June 2020 c. 92% of the space is already let, with the main tenants being alternative asset manager the Intermediate Capital Group (ICG) and accountancy firm Crowe UK. Both leases run for 15 years.

2018 February - LGIM Real Assets (Legal & General), on behalf of its Managed Fund, appoints Savills to sell Procession House, seeking offers in excess of £67.5 million.

2017 November - Legal & General secured planning consent for a John Robertson Architects-designed scheme, which will significantly enhance the existing configuration and appearance of the building.

1999 - Procession House office building designed by John Robertson Architects completes.