Concurrent with the closing of this acquisition, Hines Global entered into leases with subsidiaries of Morgan Stanley for nearly all of the net rentable area of the building, which expire in 2029. 1 713 621 8000 The work provides flexibility for additional space to be delivered and will create new terrace-level gardens on the 9th and 14th floors. On July 24, 2020, Global REIT Cabot Square Holdco S.À R.L. A leader in investment and development since 1957. United States ALAMY. Russia Hines considers £390m sale of 25 Cabot Square. As with all websites, we use cookies. Italy Spain The U.S. bank will remain in part of the building, the people said. 81 3 6890 3205, 35 F, John F. KennedyLuxembourg L-1855 25 Cabot Square is a 17-floor office building occupied by Morgan Stanley in the Canary Wharf development in London, England.. Jul 28, 2020. 25 Cabot Square, London. 416 595 1949, Suite 1000, One Museum Place669 Xin Zha Road, Jing An DistrictShanghai, PRC 200041 Welcome to propertyweek.com. Canary Wharf’s 25 Cabot Square, which is occupied by Morgan Stanley, is Link’s first asset in the UK. By Anviksha Patel 2020-06-11T14:22:00. Canary Wharf’s 25 Cabot Square, which is occupied by Morgan Stanley, is Link’s first asset in the UK. US firm Hines is on the verge of signing two tenants at its 25 Cabot Square in Canary Wharf, E14, that will take a combined 89,000 sq ft. Regus-owned serviced office firm Space is to take 67,000 sq ft, while the Office of Rail and Road will take 22,000 sq ft. Hines bought the 455,000 sq ft office through a sale and leaseback deal with Morgan Stanley in 2014. HGR Liquidating Trust (formerly Hines Global REIT) sold two Luxembourg companies owning the 17-storey office building at 25 Cabot Square in Canary Wharf, London E14 to Link Real Estate Investment Trust for £380 million. Link Asset Management Limited has agreed to buy The Cabot at London’s Canary Wharf from Hines for £380 million, its first acquisition in the UK. New content will be added above the current area of focus upon selection Hines Global REIT’s Liquidating Trust to Sell London Office Property. 507 028 20 7375, Prosta Street 68Warsaw 00-838 Australia The firm has hired financial services firm Lazard to advise on the potential sale of the portfolio, which is valued at $5.5 billion, Bloomberg reported, citing a source familiar with Hines’ planning. RIBA-award winning architects Carmody Groarke have been appointed to lead the re-design, which will reinvigorate the building to provide a contemporary workplace to meet changing occupier demands. The shortage of new or redeveloped space coming to the market has triggered Hines’ decision to proceed with the renovation of the building. Hines readies £390m Canary Wharf sale 6 Nov 2019 | by James Buckley. Denmark Occupier demand is coming from an increasingly broad range of sectors, with TMT clearly at the fore, and there is a paucity of new, modern and flexible, large-scale workspace to serve this new dynamic. It reinforces our long term commitment to Canary Wharf as a market and is emblematic of the continuing evolution of the area. Set across two floors, this bar and restaurant has panoramic views overlooking the water and of course Vagabond's trademark wines with over 120 bottles to discover and drink by the glass. Linkedin Twitter. Hines has confirmed it has prelet more than 95,000 sq ft at 25 Cabot Square in Canary Wharf, E14, to IWG’s Spaces brand and The Office of Rail and Road. They also have a seasonal menu for lunch, dinner and group bookings. Hines Global REIT’s Liquidating Trust to Sell London Office Property. Hines, the international real estate firm, has unveiled plans to undertake a major transformation of 25 Cabot Square, its 455,000-square-foot office building in Canary Wharf, which will bring 200,000 square feet of new space to the market. 1 713 237 5600, 101 California StreetSuite 1000San Francisco, CA 94111 Hines has approximately $96.5 billion of assets under management, including $48.5 billion for which Hines provides fiduciary investment management services, and $48 billion for which Hines provides third-party property-level services. Raj Rajput, managing director and head of asset management at Hines, said: “The renaissance of The Cabot will be a significant milestone for Hines. The Cabot The Cabot is a remodelled office building by Hines 25 Cabot Square and architects Carmody Groarke, with large terraces, a new entrance hall and contemporary specification. Asia’s largest REIT said in a statement that it has agreed to buy the 17-storey office building on Canary Wharf from a unit of Hines Global REIT around six weeks after … July 27, 2020. By Richard Williams 2017-06-13T16:24:00. 34 91 703 00 23, Three IFC, Level 4310, Gukjegeumyung-ro, Yeongdeungpo-guSeoul 07326 Brazil HGR Liquidating Trust, the liquidating trust of non-traded real estate investment trust Hines Global REIT Inc., has agreed to sell 25 Cabot Square, a 17-story Class A office building located in Canary Wharf in London, for approximately $482.6 million (approximately … A tailored approach to global real estate investing. Mexico June 13, 2017. The office building is over 44,000 square metres in size and is widely recognised as a well-established landmark in the capital city. 852 3651 6198, 345 Hudson Street12th FloorNew York, NY 10014 1 770 206 5300, 609 Main St.Suite 2400Houston, TX 77002 Hines is believed to be negotiating a £390m sale of 25 Cabot Square in Canary Wharf to the largest real estate investment trust in Asia, Link REIT. Local Authority London Borough of Tower Hamlets Client Hines UK Architect Carmody Groarke 06600 Link REIT is taking over Morgan Stanley’s European HQ Link REIT has moved forward with its first acquisition in the western hemisphere as the Hong The firm has 114 developments currently underway around the world. The company’s UK portfolio of assets under management includes The Centre Livingston, Cannon Place, One Bartholomew Lane, One Westferry, Sixty London and 25 Cabot Square. When Hines Global REIT adopted its Plan of Liquidation in July 2018, it anticipated completing the sale of all of its assets within the 24-month period imposed by the Internal Revenue Service (“IRS”). “Canary Wharf is changing and is no longer the preserve of the financial services industry. 55 11 5504 7600, 81 Bay StreetSuite 3500Toronto, ON M5J 0E7 7 495 785 05 00, Paseo de la Castellana 110, 2º B Madrid 28046 500,000 sq ft office development let to Morgan Stanley, IWG and the government prepared for sale. Hines plans to undertake a major transformation of 25 Cabot Square, its 455,000-square-foot office building located in the Canary Wharf submarket of London. Link REIT has moved forward with its first acquisition in the western hemisphere as the Hong Kong-listed real estate investment trust today announced a deal to purchase 25 Cabot Square in London for £371.4 million ($475 million). The 17-storey 481,605 square feet building is located in the heart of Canary Wharf and is let to a number of tenants, including Morgan Stanley and UK government departments. Panama Please Login or Subscribe. The building, which is to be rebranded The Cabot, was acquired in 2014 through a sale and leaseback with Morgan Stanley, who made a long-term commitment to the lower part of the building and now occupies 250,000 square feet over levels one through six. Following a competitive pitch for the joint leasing agency role, Hines has appointed CBRE and Squarebrook, alongside existing advisors Knight Frank. 1 312 419 4900, 5 Ravinia Dr NEAtlanta, GA 30346 Situated in the heart of Canary Wharf along Cabot Square is Vagabond's latest venue. Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 189 cities in 20 countries. Corporate Communications Hines to redevelop 25 Cabot Square. 86 21 6087 2200, 66 Avenue Charles de GaulleNeuilly-sur-Seine, IDF 92522 52 55 52428809, Rokin 69DAmsterdam 1012 KL Sky News has learnt that the Competition and Markets Authority (CMA) has finalised a deal to take a long-term lease at 25 Cabot Square, a Canary Wharf building owned by Hines, a … Registered users and subscribers SIGN IN here to continue, Student Accommodation Conference & Awards, Property Week Digital Edition – 7 May 2021, Industrial & Logistics supplement April 2021, RICS CEO bonus sparks fresh anger among members, QSix REF provides £40m loan for Tobacco Warehouse development, Barratt Developments expects increase in completions on strong demand, LondonMetric completes on £780m of debt refinancings, Green shoots of recovery start to appear in construction sector, Q&A: Knight Frank’s Tim Hyatt on the housing market boom, Savills report joins up the dots on tackling carbon emissions, Q&A: Five minutes with Anna Shapiro, associate director at Sheppard Robson, Industry leading the charge in pursuit of net zero objectives, Four FREE articles of your choice per month, Breaking news, comment and analysis from industry experts as it happens, Choose from our portfolio of email newsletters. Morgan Stanley sold 25 Cabot Square to Hines for 225 million pounds in 2014 with an agreement to lease back half the 450,000 square feet of space for 15 years and half for three years with an option to extend, according to two people with knowledge of the matter. 2800 Post Oak Blvd.Houston, TX 77056-6188 1 212 230 2300, 444 West Lake StreetSuite 2400Chicago, IL 60606 The portfolio includes marquee assets such as the 448,000-square-foot office building at 25 Cabot Square on Canary Wharf in London and the global headquarters of … Vice President Poland Ramboll has been appointed by the client Hines providing structural engineering services for the refurbishment. Hines is believed to be negotiating a £390m sale of 25 Cabot Square in Canary Wharf to the largest real estate investment trust in Asia, Link REIT. Hines is believed to be negotiating a £390m sale of 25 Cabot Square in Canary Wharf to the largest real estate investment trust in Asia, Link REIT. 33 1 41 45 80 80, Hines Immobilien GmbHJoachimsthaler Str. Japan The privately owned developer and fund manager had acquired 25 Cabot Square from Morgan Stanley in 2014 on a sale and leaseback agreement, with Hines having since completed a £70 million renovation of 200,000 square feet across floors 7 through 14 of the building. India In addition to significantly increasing the street-level retail amenities, Hines is re-landscaping the public realm across the site. The firm’s current property and asset management portfolio includes 533 properties, representing over 213 million square feet. 48 22 351 2400, 11 Gogolevsky BoulevardMoscow 125047 Spaces has agreed to occupy 71,000 sq ft on levels 11, 12, 14 and part of level 10 on a 15-year lease. 1 415 982 6200, Gasheka Street 6Ste. 713 966 7676, Mark Clegg The shortage of new or redeveloped space coming to the market has triggered Hines’ decision to proceed with the renovation of the building. 0039 02 8962921 Italy.info@hines.com, 4F Akasaka K Tower1-2-7 Motoakasaka, Minato-kuTokyo 107-0051 44 20 7292 1900, 1 Connaught Road, 28F Central, Hong Kong The largest single asset in the portfolio is 25 Cabot Square in the Canary Wharf district of London. das Nações Unidas, 12901Torre Norte - 6 ° andarSão Paulo 04578-910 Corporate Communications & Public Relations The 25 Cabot Square deal went ahead despite doubts about the return of office workers to Canary Wharf. Global law firm Bryan Cave Leighton Paisner LLP (BCLP) has advised HGR Liquidating Trust (formerly Hines Global REIT) on its sale of two Luxembourg companies owning the 17-story office building at 25 Cabot Square in Canary Wharf, London E14 … United Kingdom George C. Lancaster The only debt outstanding is mortgage debt at 25 Cabot Square and New City. 713 853 9999 Read our policy here. Completion of works will be in Q1 2019. The HK$193 billion ($25 billion) trust, which is Asia’s largest, is reportedly in talks with Houston-based Hines, which owns 25 Cabot Square on Canary Wharf, to purchase the 17-storey office building after US private equity fund Blackstone pulled out of its £390 million ($498 million) acquisition of the Canary Wharf property in March after having already agreed to terms, according to local UK media reports. 353 1 7999900, Via Broletto, 35Milan 20121 Currently festooned with cranes and hi-vis workmen, its transformation into The Cabot is well underway. 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