Plumtree Court, EC4

Creating a bespoke solution to acquire an ultra-prime City landmark

Objective

Korea’s National Pension Service (NPS), represented by LaSalle, had a strategy to re-enter the market by acquiring a prime London asset which could provide a long term, stable income.

Client

NPS/LaSalle

Service

Capital Markets

How we met the objective

Patrick, whilst at JLL, lead the acquisition team that originally sourced Plumtree Court, a landmark 800,000 sq ft ultra-prime building which boasts two-acre floorplates, amongst the largest in the City of London. The client bought the building for £1.2bn on a long-term leaseback from Goldman Sachs who will occupy Plumtree Court as their European headquarters.

The team also advised on the terms of the leaseback from Goldman Sachs together with underwriting the opportunity, generating enhanced returns for the client.

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