FISPAM - Offices Development - London E16

Date: 11 Oct 2001

FISPAM* has invested £7 million in East India Dock as the final partner in a limited liability partnership set up to invest in The CIT Group and Morgan Stanley Real Estate's £125 million fund. FISPAM's investment reflects a 15% stake.

The 55,000 sq m (592,000 sq ft) development in London's Docklands comprises four office buildings, all fully let. Occupiers include companies in the financial services and IT sectors, as well as the London Borough of Tower Hamlets.

Other investors in include Royal Bank of Scotland, General Motors Pension Fund and the Six Continents (formerly Bass) Pension Fund.

Ian McBryde, Director of Commercial Property for FISPAM comments:

"FISPAM sees a great deal of potential for future growth in Docklands and is pleased to have acquired this substantial stake at East India Dock. The investment complements our existing holdings and developments in central London."

FISPAM was advised by King Sturge.

Where do I go now?: » View the latest news items » View the news archive » Subscribe to Weekly Construction Newsletter » Submit news