Partners Group, the global private markets investment manager, and Exemplar, the leading London property developer, have partnered to begin the construction of an iconic office building in the heart of the City of London at 80 Fenchurch Street.
Eighty Fenchurch will be a 14-storey landmark for the City of London comprising 240,000 sq ft (22,000 sq m) net internal area (NIA) of Grade A office accommodation and 12,250 sq ft (1,140 sqm) of retail space designed by multi-award winning architects TP Bennett. The project, which remains majority-owned by funds managed and/or advised by Partners Group, offers a rare alternative to City towers through the inclusion of six landscaped roof terraces and variable floorplates ranging from 5,000 sq ft to 20,000 sq ft NIA.
The demolition of existing buildings on the 0.6-acre island site has now been successfully completed. Construction of the new City landmark will commence in the second half of the year, and is scheduled to be completed in 2019.
Mike Bryant, Managing Director of Private Real Estate at Partners Group, states: "The first stage of the project, covering design and demolition, is now complete. The second stage of the project involves constructing and leasing the building and for that we are very pleased to partner with
Exemplar, which has a track record of developing some of London's most exciting buildings and doing so in a responsible and sustainable manner."
Clive Bush, Director of Exemplar, comments: "We are delighted to have joined forces with Partners Group, which shares our vision of developing a spectacular building built to the very highest quality at 80 Fenchurch Street. Our investment and partnership with them reflects our overwhelming confidence in the strength of the City and the UK market in the post-Brexit era."
80 Fenchurch Street will be constructed to deliver BREEAM excellent and Wired Score platinum ratings, reflecting its equal attractiveness to the traditional City and Tech markets. It will also benefit from the by then newly operational Elizabeth Line (Crossrail) and its Liverpool Street station.
Partners Group and Exemplar also announce that on completion, Partners Group will become the first occupier at 80 Fenchurch Street, relocating its UK office there from the Salesforce (Heron) Tower.