Canadian private equity giant Brookfield is set to buy City of London property Plantation Place for £ 635million – biggest office deal since Covid-19 changed the way people work and emptied the offices.
The deal is expected to end this week, the Sunday Times first reported, with Brookfield also in separate talks to buy Milton Gate, an office building on the outskirts of the city, for £ 215million.
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The mega-agreements are a vote of confidence for the City of London as England draws closer to so-called ‘Freedom Day’ on June 21, and guidelines for working from home are believed to be lifted.
However, working from home could be extended beyond June 21, according to reports, with the spread of the Indian variant posing a potential threat to the government’s roadmap.
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Plantation Place – now called 30 Fenchurch Street following the Black Lives Matter protests – is one of the city’s tallest office buildings and is occupied by consultancy firm Accenture and Aspect Insurance.
Brookfield declined to comment.
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