The lower levels of the Apex Tower in New Malden are used for retail, while the upper 15 floors house nearly 100,000 square feet of office space.
BAE Systems is currently the principal occupier of office space at Apex Tower, and the international security and aerospace company is expected to provide CLS with the lion’s share of any resulting rental fees in years to come.
A Tesco supermarket and a William Hill betting outlet are both located at the foot of the building, but CLS is primarily keen to expand its portfolio of London office buildings, which already includes the nearby CI Tower.
“We are pleased to conclude the purchase of Apex Tower, which provides an excellent long-term income stream from blue-chip tenants together with a number of short and medium-term asset management opportunities,” said Sten Mortstedt, executive chairman of CLS Holdings.
“It continues our focus on owning cost-effective offices, which generate reliable cash flow,” he added.
Last month, a deal worth close to £340 million was agreed between British Land and Oxford Properties to establish a new landmark skyscraper office building in central London.
The UK capital was also recently rated as the best city in the world in which to do business by the international real estate business Cushman and Wakefield.
Editor’s notes: BAE Systems’ lease was due to expire in June 2020, and it chose to vacate the property at that time. As the tenant had rented over 90 per cent of the 16-storey property’s space, the company’s vacation left the property practically empty, apart from Tesco Express, which, as of May 2023, remained in occupation.
Apex Tower was subsequently refurbished to provide high-quality office space within the highly recognisable building in the Borough of Kingston upon Thames in Southwest London.
The extensive refurbishment earned a BREEAM ‘Very Good’ accreditation and an EPC ‘b’ rating, and created features within the property, including shower facilities, EV charging stations, and a new air conditioning system.
In May 2023, just over 54,000 square feet of office space was available for rent and was marketed at £32 per square foot per annum.
Floor plates measure approximately 6,800 square feet, with office suites available from 900 square feet, and a communal business lounge on the 15th floor offering coworking desks and incredible views across London.
In May 2026, there were 33,931 square feet of office available to rent at Apex Tower with suites starting at 947 square feet.
The building also offered a communal business lounge on the 15th floor with far-reaching views across London, incorporating a coffee point, an informal breakout space, and a number of hireable meeting rooms.
Examples of flexible office space and workspace solutions in Southwest London can be seen here.
These solutions include private serviced offices, furnished, fitted and managed offices and coworking space. These are held on short-term contracts, with the option to increase or decrease the footprint mid-term, and offer all-inclusive pricing, so overheads such as utilities, cleaning, and reception services are included in the monthly licence fee.