Every inch of available office space at the site is accounted for by existing occupiers on the basis of deals lasting for an average of 14 years. British Land expects to see net proceeds from the sale of around £461 million, which it has said it intends to plough back into improving its portfolio of London property assets.
Taking ownership of the offices at Ropemaker Place is a consortium of investors represented by AXA Real Estate Investment Managers and made up of subsidiaries of a UK Real Estate Investment Trust, namely Frasia Properties and the Frasia Properties Subsidiary.
Among the existing tenants at the City of London site are the Bank of Tokyo-Mitsubishi, Markit and Liberium Capital, all of which are sizeable operators within the financial services industry.
British Land describes the sale of Ropemaker Place as being in line with its strategy of balancing its portfolio of London properties between offices in the West End and offices in the City.
“Ropemaker demonstrates our track record of delivering exceptional, sustainable buildings which are profitably let to quality occupiers,” said Tom Roberts, head of offices at British Land.
“The sale reflects the attractiveness of our buildings to investors as well as occupiers and allows us to recycle capital to invest in our development programme,” he said.
Ropemaker Place boasts a total of 595,000 sq ft of Grade A London office space and has an ‘excellent’ BREEAM sustainability rating. It was completed in 2009 and stands 20 storeys high.
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Editor’s Note: In June 2018, it was announced that Ho Bee Land had purchased the commercial property for £650 million.
The Singaporean developer purchased the asset through its Grandeur Property Investments Ltd. subsidiary.
In 2026, it was reported that British Land had delivered a record year of retail park and office leasing activity in its Full Year 2026 results, transacting 3.8 million square feet of space and reporting a 5 per cent increase in underlying profit to £294 million from £279 million the previous year.
The property development and investment company leased a record 1.7 million square feet of space, securing £143 million in rental income, and like-for-like net rental growth reached 6 per cent, with a significant 12 per cent boost from its office campuses.
Its Central London office take-up hit a 20-year high across its portfolio, driven heavily by AI and technology firms. A highlight of the period was the 158,000-square-foot letting to Anthropic at One Triton Square.
The firm also advised that its office campus portfolio occupancy was at 94.7 per cent in May 2026, with a further 1.1 million square feet under offer.