Acquired in 2010 in joint venture with BlackRock (formerly MGPA) and CarVal Investors.
Moorgate Exchange sits on the site of the former Moorgate telephone exchange. Technological advances rendered the former telephone exchange redundant and the site was acquired by the joint venture in 2010.
The existing planning consent provided compromised space and Quadrant Estates in joint venture, led the re-design to generate more NIA office space, reduced build cost and provide greater environmental sustainability.
The redundant buildings on the site were fully demolished and after placing a highly competitive design and build contract with a leading European contractor, construction followed immediately.
Moorgate Exchange is a primarily an office building with a small leisure element at basement level leased to a gym operator.
The development was completed in April 2014.
Brookfield acquired the asset from the joint venture in September 2014 to exceed the business plan for Quadrant Estates and their capital partners.
Moorgate Exchange achieved BREEAM Excellent and LEED Platinum accreditation. It is one of very few buildings in London to achieve this highest level of sustainability (though the list does include another Quadrant Estates building - 100 Cheapside).