Henderson Park acquires London office building from Lloyds Register

Real estate investment manager Henderson Park has reached an agreement to acquire 70 Fenchurch Street in London's EC3 district from Lloyd’s Register Group.

70 Fenchurch Street, London

This 20,000 m2 office building, originally designed by Rogers Stirk Harbour + Partners (RSHP) and built in 2000 for Lloyd's Register, spans 13 stories above ground and two basement levels. Its prime City of London location offers excellent transport links, being next to Fenchurch Street Station and close to five Underground stations.
This sale follows LR's move into its newly refurbished headquarters next door at 71 Fenchurch Street, now officially named the Lloyd’s Register Building.
Henderson Park will partner with central London office developer YardNine to comprehensively refurbish and reposition the asset into desirable Grade A office space. The project, expected to be completed and ready for occupancy in 2028, will feature a new arrival experience, roof terraces, end-of-trip facilities, and significant improvements to its ESG performance. RSHP and Arup, who were involved in the building's original design, will be re-appointed as architects to maintain its award-winning character.
Christophe Kuhbier, head of Investments, Europe, at Henderson Park, commented: “This acquisition exemplifies our thesis of investing in well-located city centre assets with strong fundamentals. Working with YardNine, we will undertake targeted capital expenditure to modernise 70 Fenchurch Street, delivering Grade A space in the City of London office market that presents a compelling dynamic of strong occupier demand and limited supply.”
Maxwell Shand, director at YardNine, commented: “The opportunity to deliver a fantastic rejuvenation of this iconic building in the EC3 market for occupation in 2028 is extremely exciting. Fenchurch Street and EC3 is a sub-market that YardNine knows well, and we look forward to delivering this project alongside Henderson Park.”
Nick Brown, CEO of Lloyd’s Register, added: “The sale of 70 Fenchurch Street and our move into the refurbished Lloyd’s Register Building mark an important step in aligning our estate with the needs of a modern, global organisation.”
Savills and A&O Shearman advised Henderson Park and YardNine, while Lloyd's Register received advice from CBRE and Herbert Smith Freehills Kramer.