KPMG Restructuring confirms sale of CityPoint ... | KPMG | UK
Share with your friends

KPMG Restructuring confirms sale of CityPoint to Brookfield

KPMG Restructuring confirms sale of CityPoint ...

KPMG Restructuring confirms sale of CityPoint to Brookfield.


Also on

Receivers from KPMG, together with Mount Street Mortgage Servicing Limited (“Mount Street”) acting as special servicer, have confirmed they have achieved a sale of CityPoint to a Brookfield-sponsored real estate fund.

Built in 1967, CityPoint on Ropemaker Street, EC2 is a 35 storey commercial tower located in the City of London’s financial district. KPMG Channel Islands partners Andrew Quinn and Steve Hunt were appointed as fixed charge receivers over the property in October 2012. Following their appointment and working alongside Mount Street as special servicer and Beacon Capital Partners as asset manager, the parties sought to maximise the property value by re-gearing key leases, letting vacant space and investing capex to restore the image and quality of the asset.

A sale process was started earlier this year and a sale to a Brookfield-sponsored real estate fund was completed on Thursday 15 December 2016, at which time the receivers ceased to act. 

The receivers confirm that the sales price is sufficient to repay all senior liabilities. However the overall transaction price remains confidential. 

Ed Boyle, partner at KPMG and lead advisor to the Jersey based receivers, commented: “We are delighted to have achieved a sale of CityPoint against the backdrop of the Brexit referendum, which is a vindication of the receivers’ value-enhancement strategy regarding the property over the last four years.


For media enquiries only, please contact:

Simon Wilson, KPMG Corporate Communications

T: 0207 311 6651 

M: 0778 537 3397


Follow us on twitter: @kpmguk

KPMG Press Office: +44 (0)207 694 8773

About KPMG

KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 13,500 partners and staff.  The UK firm recorded a revenue of £2.07 billion in the year ended 30 September 2016. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 189,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  Each KPMG firm is a legally distinct and separate entity and describes itself as such. 

Connect with us


Request for proposal