News

WeWork To Buy £600M London Office Estate From Blackstone

Courtesy of Blackstone
Devonshire Square

Flexible working giant WeWork is in exclusive talks to buy a £600M estate of office buildings in the City of London, according to Bloomberg.

WeWork has agreed a deal to buy the 620K SF, 12-building Devonshire Square complex, and will manage the buildings and occupy the vacant space. It has appointed Eastdil Secured to find finance for the purchase, Bloomberg said.

Blackstone bought Devonshire Square for £350M in 2012, added features such as better restaurants and a members club, and has been leasing vacant space.

WeWork, valued at $20B, is flexing its muscles in terms of buying as well as occupying office buildings. Earlier this week it said it was buying the Lord & Taylor building in Manhattan for $850M.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's London Newsletters
Related Stories

Denver Tech Center Office Tower Trades Hands For First Time In 14 Years

The VC Rebound Won't Save All Lab Real Estate

Law Firms Drive Boston Office Rents To Record Highs

3 Houston Office Properties, Vacant To Nearly Full, Change Hands

How U.S. Giant Realty Income Bought The UK And Europe

Deutsche Hypo Finances Zadelhoff's Amsterdam Offices With €75M Loan

SFF Realty Partners Extends Spending Spree With $82M Acquisition In Downtown San Jose

Drawbridge Realty Acquires 180K SF Office Building In Sunnyvale For $219M

Downtown Los Angeles Retail, Office Hub The Bloc Up For Sale

Distress Divide: How Private vs. Institutional Investors Are Thinking About D.C. Office

Scottish Castle In Middle of Growing Controversy Over Data Centre Development

Interest Rate Hike Douses Outlook For Atlanta Developers