BLP acts on the sale of the Pinnacle
International law firm Berwin Leighton Paisner (BLP) has acted for the sellers on the sale of 22 Bishopsgate, London EC2 (formerly known as The Pinnacle) to an international consortium of investors represented by AXA Real Estate Investment Managers.
The international consortium of investors has appointed AXA Real Estate as Investment Manager and Lipton Rogers as Developer, with the intention to develop a new landmark tower designed by leading architects PLP.
The 60 storey design will provide over 1 million sq ft of prime best in class Grade A offices, including retail as well as restaurant and bar space, in addition to a public viewing gallery at the very top of the building.
Construction is expected to commence by the end of 2015 with completion scheduled for the end of 2018.
The sellers will retain an interest in the restaurant and other space at the top of the building.
The team at BLP was led by Head of Real Estate Chris de Pury, Partner Chris Roweand senior associate Freddy Webber, working closely with a team from DAC Beachcroft.