Stanhope grows Asset Management Portfolio with 8 Bishopsgate

Stanhope is set to become the asset manager for its landmark scheme, 8 Bishopsgate, which it developed on behalf of Mitsubishi Estate London. 8 Bishopsgate joins a £4bn portfolio of office and Life Science buildings covering six million sq. ft. asset managed by Stanhope, including Television Centre, White City Place and Cambridge Science Park.

Stanhope’s asset management offer has been growing rapidly over the last five years, with the in-house team managing some of London’s most recognisable developments and buildings on behalf of a number of third-party investors as well as Stanhope’s own shareholders. Stanhope holds a unique position in the market as both developer and asset manager, allowing opportunities to add value for investors throughout the development lifecycle, from design and mobilisation through to stabilised asset management.

Stanhope’s newly announced asset management role only deepens its ties with one of the City’s most anticipated new towers for which it acted as development manager. Earlier this month, CEO David Camp announced the team would be relocating its own offices to 8 Bishopsgate from their current location on New Oxford Street. This reflects his confidence in the scheme’s state-of-the-art facilities, cutting-edge technological infrastructures and sustainability credentials, vitally important to Stanhope after achieving its ‘B Corp’ certification in 2023.

The ever-growing mix of occupiers continues to be a testament to the building’s high-quality design and careful curation of amenities, which ranges from a 200-seat auditorium, rooftop terrace and adjoining restaurant as well as a public viewing gallery and executive suites on the 50th floor.

Designed by award-winning architects, WilkinsonEyre, the building comprises 560,000 sq. ft of offices with 75,000 sq. ft of amenity space.

Claire Dawe, Head of Asset Management Stanhope, said:

“We are incredibly proud to have been appointed as the Asset Manager for 8 Bishopsgate and will continue the brilliant work carried out by our development team and Mitsubishi Estate London. Stanhope has been involved in the entire life cycle of the building, so it feels fitting that we now lead it through this next stage.

“Our approach to asset management is granular and human centric with a significant focus around the communities within our buildings. We work closely with our occupiers to understand their employees, what they value and how to best play to those values. The tenants across our asset management portfolio range from small family offices to large corporations and our hands-on approach means that we can provide tailored support no matter their size or services.”

Shinichi Kagitomi, Managing Director of Mitsubishi Estate London, said:

“As the development manager on the scheme, Stanhope has a unique understanding of the building, which will be further heightened when they relocate to 8 Bishopsgate as an occupier. This makes them the obvious choice as asset manager and we look forward to a continued working relationship on this landmark building”.