Mitsui Fudosan (U.K) Ltd. (Mitsui Fudosan UK), has completed the acquisition of a 100% share of the long leasehold interest in the prime City of London office development known as Sancroft, 10 – 15 Newgate Street.
Originally constructed in 2003, the building occupies a prominent position on Paternoster Square and is currently undergoing a comprehensive refurbishment and extension. As the new owner, Mitsui Fudosan UK is expecting to complete the works later this year to provide 309,000 sq ft of best-in-class HQ office and retail accommodation overlooking St Paul’s Cathedral.
About Mitsui Fudosan UK
Mitsui Fudosan UK is the UK subsidiary of Japan’s largest real estate company, Mitsui Fudosan Co., Ltd. which is headquartered in Tokyo and listed on the Tokyo Stock Exchange. Mitsui Fudosan UK is responsible for Mitsui Fudosan Group’s real estate investment and development activities in Europe.
Mitsui Fudosan UK was established in 1990 and via its strategic partnership with the developer Stanhope PLC has delivered over 3.2 million sq ft of award-winning developments in various asset types including office, retail, residential and mixed-use schemes. The combined development pipeline of Mitsui Fudosan UK totals more than 2.7 million sq ft, and Mitsui Fudosan UK plans to further expand its investment into the UK and Europe to contribute to the Group’s strategy to increase its global presence.