Groupon takes Aldgate Tower space

By James Buckley - Tuesday, May 08, 2018 13:56

US e-commerce giant Groupon has taken two floors at The Aldgate Tower.

The UK entity of Groupon (MyCityDeal Ltd) has taken 40,000 sq ft over the 11th and 12th floors, which were previously occupied by Williams Lea Tag, owned at the time by DHL.

Groupon has taken assignments on the existing DHL leases.

CBRE represented Groupon and Newton Perkins advised DHL.

China Life and Brookfield completed their acquisition of Aldgate Tower from Aldgate Developments in 2016 for £346m.

The 16-storey Aldgate Tower has average rents of £53 per sq ft and a weighted average unexpired lease term of 13 years. The sale price reflected a capital value of £1,070 per sq ft.

jbuckley@costar.co.uk

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