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Thursday, 27 July 2017

City of London Skyscraper Stake Is Said to Be Offered for Sale - Bloomberg

City of London Skyscraper Stake Is Said to Be Offered for Sale - Bloomberg:

"Gerald Ronson’s U.K. property company plans to sell its stake in the City of London office building known as Heron Tower, a person with knowledge of the matter said, as overseas investors pay record values for properties in the financial district.

Ronson’s Heron International owns about a third of the 46-story skyscraper officially called 110 Bishopsgate. The stake will probably attract bids valuing the entire building at more than 760 million pounds ($1 billion), based on the price paid for the Walkie Talkie, the person said.

The rest of the building is controlled by investors including the State General Reserve of Oman Fund and members of Saudi Arabia’s royal family. Broker CBRE Group Inc. is advising Heron on the sale of the stake, the person said. A spokesman for Heron didn’t respond to repeated requests for a comment, and a spokeswoman for CBRE wasn’t immediately able to comment to answer requests for comment.


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