The owners of Tower 42, which encompasses 342,000 sq ft of office space, have taken the building off the market.
According to the funds which own the 600 ft skyscraper – the tallest in the City of London – the move was taken to capitalise on soaring rents for office space across London’s main financial district.
The group claims that a number of bids had been tabled for Tower 42, which was originally known as the NatWest Tower and has been on the market since April 2010.
A statement from the owners, including investment vehicles under the control of La Salle Investment Management and BlackRock, alluded to plans to pursue “a number of initiatives across the estate”.
Prior to withdrawing it from sale, a price of around £300 million was being sought for Tower 42.
News of developments comes amid a surge in rental values in the City over the last year, as scrapped developments contribute a shortfall in supply for prime office space.