Kirsh Group, owned by South African property magnate Nathan Kirsh, has closed the purchase of the landmark Tower 42 Estate in the City of London for just over £282 mln (EUR 340 mln). The vendor is The Tower Limited Partnership, representing a joint venture of BlackRock's UK Property Fund, Hermes Property Unit Trust and LaSalle Investment Management on behalf of the Royal Mail Pension Plan.

The sale took place on December 20.

Opened in 1981, Tower 42 is currently the fifth highest building in London and the second highest in the City. It provides 30,100 m2 of multi-let space. In addition to the 183-metres high iconic skyscraper, the Estate includes five other commercial buildings on a 2.2 acre freehold site, including developments on Old Broad Street and Bishopsgate.

Hogan Lovells and Nabarro advised the vendors. MacFarlanes advised the buyer.