A joint Stanhope and Mitsui Fudosan bid has emerged as the frontrunner to buy tired City office block Angel Court Tower, EC2.
The pair were expected to be named preferred bidder to buy the circa £65m tower from TIAA-CREF as Estates Gazette went to press. The site has permission for a big refurbishment, expected to cost £110m.
Exemplar, Helical Bar, Tishman Speyer, Land Securities and Quadrant Estates in a joint venture with Orion also bid for the tower.
JP Morgan has a lease on the entire building - sublet to various tenants - which expires in the third quarter of