Kings Reach Tower For Sale (16/11/2009)

Former IPC Headquarters is on the market...

Kings Reach Tower, the iconic 1970s ex-headquarters of IPC Media, is to be sold by J Gershinson FRICS and A Packman MRICS of Allsop LLP, acting as joint fixed charge receivers.

The 30 storey tower sits on a circa 3 acre site located in the heart of London’s South Bank.  The area has seen significant regeneration in recent years and is currently the focus for a number of proposed high profile mixed use tower schemes.

The tower and its podium building currently comprise approximately 275,000 sq ft of vacant offices and ancillary retail.  The site has planning consent for refurbishment and part redevelopment to provide c.400,000 sq ft of office and retail accommodation.

Allsop Partner, Graham Browning, said “there is clear potential for a new 40 storey development to take place comprising over 500,000 sq ft suitable for a mix of uses, subject to obtaining the necessary consents.  This is a great opportunity for a purchaser to participate in a significant regeneration project”.

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For further information please contact:

Graham Browning
Equity Partner
Allsop
DL  +44 (0)20 7417 1611
Email graham.browning@allsop.co.uk