BlackRock And LaSalle Are Selling Their London Skyscraper

Tower 42

[credit provider=”Kevin Hutchinson” url=”http://www.flickr.com/photos/hutchike/2130174/sizes/l/in/photostream/”]

Tower 42, one of London’s most iconic skyscrapers, is being put up for sale by its owners BlackRock and LaSalle, reports Property Week.The tower, which is being sold for £290 million ($456 million), looks to be another prized asset in London’s fast moving property market.

“With limited supply and increasing demand exerting upward pressure on rents in the City market, investors can anticipate strong returns and considerable long term growth potential,” said Jeff Morton, managing director at BlackRock.

Tower 42 is the fifth tallest building in the UK and the second tallest in the city’s financial district. It opened in 1980.

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