280 Bishopsgate

London EC2


  • Prime City of London location opposite the internationally renowned Broadgate complex and forming part of Bishops Square.
  • Substantial island site totalling 0.7 acres with extensive frontage onto Bishopsgate.
  • Exceptional connectivity which is set to benefit further from the completion of Crossrail (Elizabeth Line) at Liverpool Street.
  • 273,110 sq ft (25,372.8 sq m) of office, retail and ancillary accommodation arranged over basement, lower ground, ground and 12 upper floors.
  • Highly flexible, typical office floor plates ranging between 18,004 sq ft (1,672.6 sq m) and 21,089 sq ft (1,952.2 sq m).
  • Held long leasehold for a further 122 years at a gearing of only 3.93%.
  • National Westminster Bank plc (NatWest) currently occupies the entirety of the office accommodation with vacant possession to be granted by Q1 2020.
  • Immediate opportunity to reposition the building.
  • Offers are sought in excess of £173 million, subject to contract, and exclusive of VAT. Assuming purchaser's costs of 6.80%, this reflects a low capital value of £633 per sq ft overall.


280 Bishopsgate is located in the City of London, one of the world's leading financial districts.

280 Bishopsgate occupies a prominent position on the east side of Bishopsgate, in the heart of the City of London, directly opposite the internationally renowned Broadgate complex which is centred around Liverpool Street Station.

Bishopsgate is one of the City's principal thoroughfares, running between Broadgate to the west and Spitalfields to the east. The location therefore attracts a diverse range of tenants from the financial, professional, media and technology sectors. Occupiers within the immediate vicinity include Amazon, WeWork, NatWest, Allen & Overy, McCann Worldgroup, TP ICAP, Milbank LLP, Peel Hunt LLP and the new Eataly food market.

The location benefits from close proximity to London's Shoreditch area, with its rich mix of bars, restaurants and shops situated a short walk to the north of 280 Bishopsgate.

The location is set to be further enhanced by the completion of a number of high profile developments including 135 Bishopsgate, 100 Liverpool Street and One Bishopsgate Plaza.


Exceptional transport infrastructure which is set to benefit further from the completion of Crossrail (the Elizabeth line) at Liverpool Street.

280 Bishopsgate is located in the City of London, one of the world's leading financial districts.

280 Bishopsgate benefits from superb connectivity given its prominent position near to Liverpool Street Station, one of London's busiest railway stations, servicing approximately 67 million passengers per year.

The following stations are situated within close proximity:
  • Liverpool Street (Central, Circle, Metropolitan, Hammersmith & City, Elizabeth, TfL Rail, Overground and National Rail lines)
  • Shoreditch High Street (Overground line)
  • Moorgate (Northern, Circle, Hammersmith & City, Metropolitan, Elizabeth and National Rail lines)
  • Aldgate/Aldgate East (Circle, Metropolitan, Hammersmith & City and District lines)

The Elizabeth Line (Crossrail)

Crossrail is Europe's largest high-speed railway infrastructure project that will serve London and the South East from 2020. It will run from Reading and Heathrow in the west to Canary Wharf and Abbey Wood in the east, bringing an additional 1.5 million people within 45 minutes of Central London.

280 Bishopsgate is set to benefit from the delivery of the Elizabeth line at Liverpool Street Station, which lies approximately 250 metres from the building. This will significantly enhance the accessibility of the property, providing direct access to Canary Wharf and Bond Street within 6 and 7 minutes respectively and Heathrow within 33 minutes.


Spitalfields is one of the most exciting submarkets in London and is the home of numerous creative, TMT and fashion businesses as well as an array of vibrant shops, cafés, restaurants and bars. Together with Shoreditch and Brick Lane, this area has become London's East End hub with visitors specifically drawn to the unique character and amenities on offer.

The area is most famously known for Old Spitalfields Market, which has been a market in some way, shape or form since the 1600s. After a diverse history, the now famous market opens seven days a week and provides one of London's most exciting and diverse attractions with a selection of traders, craftsmen, artists and artisans.

One Bishops Square, directly to the east of 280 Bishopsgate, comprises an impressive 7-acre mixed-use campus, with the office element being the global headquarters of Allen & Overy LLP, one of the world's leading international law firms.

The streets surrounding Spitalfields provide a diverse range of tenants, ranging from small independents such as Malby Maps and We Love Print to globally recognised brands including Hackett, Chanel and Jo Malone.

Internationally renowned restaurants in the nearby vicinity include the likes of Hawksmoor, Ottolenghi and Galvin La Chapelle.

Broadgate is a 32-acre mixed use site and the pre-eminent office campus in the City of London, located adjacent to Liverpool Street Station.

It is the largest pedestrianised neighbourhood in Central London with an estimated 19 million visitors each year, taking advantage of the exceptional shopping, drinking and dining on offer as well as working in the high quality office accommodation.

The owners, British Land and GIC, are investing circa £1.5bn into the evolution of Broadgate, reinvigorating the estate and maintaining its attraction to workers and tourists alike. This evolution can be seen with the arrival of Eataly at 135 Bishopsgate, a 42,000 sq ft Italian food and drink market (opening in 2020) and Everyman, the boutique cinema operator, opening at 1FA in 2019.

Proposals have also recently been submitted to create a new 1.5 acre landscaped park in the heart of the Broadgate Campus on Exchange Square. As the next step in the upgrade of the estate, this will create a four-fold increase in green space alongside a water feature, restaurant and event space.

Brick Lane
Brick Lane, to the east of the property, is famous for its Indian cuisine and fashion outlets such as the Laden Showroom, as well as being home to the vintage market located at The Old Truman Brewery.


280 Bishopsgate is a highly prominent headquarters office building.

Developed in 2001 to an institutional standard, it provides 273,110 sq ft (25,372.8 sq m) of well specified office, retail and ancillary accommodation over basement, lower ground, ground and twelve upper floors.

The property benefits from regular rectangular floorplates allowing for excellent natural light on all four sides. The floors are suitable for open plan and cellular configurations and provide exceptional occupier flexibility. Typical office floorplates are circa 21,000 sq ft and range in size from 18,004 sq ft (on the 12th floor) to 21,089 sq ft (on the 10th floor).

The building is currently accessed from the main reception on Bishopsgate, part of which is currently used as a retail banking branch. The reception leads to the primary service core with a bank of eight 24 person passenger lifts as well as a 200 seat auditorium. There is a single retail unit at the rear of the property, let to Pret a Manger, which fronts onto the vibrant surroundings of the pedestrianised Bishops Square. 280 Bishopsgate also benefits from a secondary entrance onto Bishops Square, which could be remodelled as part of the wider repositioning of the asset to create a dual entrance configuration.

The building currently offers further occupier amenities including 19 car parking spaces, 53 bicycle spaces and 8 showers with associated locker facilities. There is the potential to enhance these facilities as part of any future refurbishment works.


280 Bishopsgate benefits from the following institutional specifications:
  • Four pipe fan coil air conditioning system
  • Metal tiled suspended ceilings
  • Male, female and disabled WCs on all floors
  • Minimum 2.75 metre finished floor to ceiling height across all floors
  • Eight x 24-person passenger lifts
  • Goods lift servicing all floors
  • Basement car parking for 19 cars
  • 8 x showers and associated changing facilities
  • 53 bicycle spaces


The property has been measured by Plowman Craven in accordance with the Royal Institution of Chartered Surveyors (RICS) Code of Measuring Practice (6th edition) and provides the following net internal areas as seen in the link below.


The property is held long leasehold from the Mayor and Commonalty and Citizens of the City of London, expiring 13th May 2141 (c.122 years unexpired).

The head rent is calculated at 3.93% of the full rack rental value and is reviewed upwards only every 5 years. The next review is in March 2020.

The current head rent payable is £425,000 per annum.

The total site extends to approximately 0.7 acres.

A summary of the key provisions of the head lease is attached as an Appendix in the marketing particulars and the full head lease is available in the online data room.


Excluding the leases detailed in the marketing brochure, the property will be sold with vacant possession upon completion of the sale.

A retail unit comprising 1,089 sq ft at ground floor level to the rear of the building is leased to Pret a Manger (Europe) Limited on a lease until 25th October 2024. The current rent passing is £65,000 per annum (£59.69 per sq ft) and there is an upwards only rent review on 25th October 2019. This lease is excluded from the security of tenure provisions of the Landlord and Tenant Act 1954.

Furthermore, there is a lease of an electrical transformer chamber at basement level to London Power Networks for a term of 99 years from January 2002 at a peppercorn rent.

A copy of the occupational leases can be found in the online data room.

Repositioning Opportunities

The building provides the opportunity to refurbish the current accommodation and deliver attractive floor plates into an occupational market characterised by strong tenant demand and limited availability.

280 Bishopsgate also benefits from a secondary entrance onto Bishops Square, which could be remodelled as part of the wider repositioning of the asset to allow a dual entrance experience.


The property has not been elected for the purposes of VAT.


280 Bishopsgate is situated within the jurisdiction of the London Borough of Tower Hamlets. The property is not listed nor is it within a conservation area.

Capital Allowances

There are no capital allowances available.


The building has an EPC rating of E-111. The certificate is available in the online data room.

Data room

Further information can be found in the online data room. Please contact the vendor's agents to arrange access.


We are instructed to seek offers in excess of £173,000,000 subject to contract and exclusive of VAT. Assuming purchaser's costs of 6.80%, this reflects a low capital value of £633 per sq ft overall.

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