FORE Buys £51m Tower Bridge Office For Flexible Workspace Conversion

FORE Partnership has acquired Tower Bridge Court in London for £51m and unveiled plans to
partner with developer Landid to convert it into a ‘creative workspace’.

Acquired from mutual marine insurance provider West of England, FORE said it had bought the
1990s office building located on the south bank of the Thames next to Tower Bridge as a creative
refurbishment and repositioning opportunity.

West of England is currently the main occupier of the building and alongside West of England, the
building is sublet to multiple tenants, on leases expiring in July 2019.

Basil Demeroutis, FORE Partnership managing partner, said: “We believe buildings of the future not
only need to focus on reducing carbon output, but also must foster creativity and innovation while
at the same time bring about a positive community impact. These are all interlinked. With
intensifying competitive forces, increased pace of technological disruption, and fast-moving social
and demographic changes, we need to re-appraise how people live, work, and interact with
different forms of real estate. Tower Bridge Court is a perfect example of a building that can be
sensitively transformed in line with this philosophy.”

FORE is a direct co-investing platform for UK and European real estate, backed by a dozen
prominent family offices and private investors. This is the first time the investor has collaborated
with Landid, the developer that recently delivered Thames Tower in Reading and The Porter
Building in Slough.

Chris Hiatt, Landid director, said: “Tower Bridge Court represents a fabulous opportunity to work
creatively to add real value. We are very excited to be partnering with FORE to modernise this
building right in the heart of London, creating an amenity-rich design-led workspace fit for today’s
businesses. FORE’s vision of realising value through creative, hands-on real estate strategies is
perfectly aligned with our own approach to delivering sustainable, characterful workspaces.”

Debt financing for the deal was provided by ICG Longbow. Walton International and Richard
Susskind acted for FORE Partnership. Savills acted for the vendor.

Read more about TBC London.