Redevco buys One Tower Bridge F&B units for £70m

Redevco has bought the food & beverage (F&B) commercial units at the One Tower Bridge development for £70m from developer Berkeley Group.

Located on the south bank of the Thames, the property acquired by the real estate investment manager comprises 83,000 sq ft of retail, restaurant and cultural space, including 11 F&B and two retail units as well as the Bridge Theatre.

Redevco chief executive Andrew Vaughan said: "Redevco is constantly on the lookout for opportunities aligned with changing consumer spending patterns and a growing focus on leisure such as mixed-use and F&B-led investments.

London ranks as a leading global destination in this respect and this location, adjacent to Tower Bridge, encapsulates the key elements we are looking for in our experience-led investments.

"It is situated next to a world-class tourist attraction, which is a magnet for large numbers of visitors. The location also benefits from the footfall from offices and local high-end residential developments in the area."