The Docklands HQ of the European Medicines Agency has been bought in a £46.6 million deal by Canary Wharf Group.
The prestigious eight-storey office block at 7 Westferry Circus owned by the Teachers Group consists of 164,000sq ft of offices rented out to the agency at almost £7m a year and 15,500sq ft of retail space.
The rental agreement runs out in December, 2014—but the agency is moving before then to its new headquarters at Canary Wharf’s latest tower development at 25 Churchill Place.
The sale means Canary Wharf Group is reclaiming ownership of 7 Westferry Circus and aims to use it to attract more diverse tenants in line with market demand.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here