Member Article

LaSalle sells prime Shoreditch Thomson Reuters property for over £38m

Real estate investment manager LaSalle Investment Management has sold off one of its prime Shoreditch properties in an eight-figure deal.

The sale of 1 Mark Square to an unnamed overseas investor has been pegged at ‘over £38m’ and, according to LaSalle, offers a ‘significant opportunity’ for redevelopment.

The 62,506 sq ft building on the fringe of the City in Shoreditch currently houses news agency Thomson Reuters, who occupy all six floors of the property in heart of London’s tech belt.

Shaun Reed, National Director, LaSalle Investment Management, commented: “The sale of 1 Mark Square is in line with our strategy to recycle and reinvest capital into existing LaSalle development projects to ensure that we are always making the most of our investments.”

It comes after LaSalle obtained planning permission for extensive redevelopment at its 60 London Wall property near Moorgate.

LaSalle was advised by Colliers and Cortex Partners, while Clay Street Property Consultants and Hamilton Investment Partners represented the buyer.