Saïd Holdings refinances Canary Wharf block
21st March 2017
Holdings has completed a £137.5m refinancing of the debt on its Canary Wharf
office building, 5 Churchill Place.
refinancing, structured as a four-year term loan, was provided by Citi and Bank
of Ireland London. The 320,000 sq ft building was acquired by Saïd in January
2010, and ten floors are let to JP Morgan Markets until August
Butt, chairman of Saïd, said: “We are pleased to have completed this important
refinancing, and remain positive about the potential of first class commercial
office buildings in London, like 5 Churchill Place. This building is let on a
long lease to a world-class tenant and is a cornerstone of our real estate
Holdings recently appointed Robin Broadhurst, the former chairman of the
European division at JLL, to advise the board on the planned expansion of our
global real estate activities.
and other financial and professional service providers recognise that London
will remain a world centre for their businesses. We believe that 5 Churchill
Place, together with the rest of the Canary Wharf area, will be even more
attractive to businesses when Crossrail opens and the London City Airport
expansion is completed.”
Holdings was advised on the refinancing by Rothschild Global Advisory.