Reuters logo
London's Heron Tower renamed Salesforce Tower after U.S. tenant
May 22, 2014 / 3:51 PM / 4 years ago

London's Heron Tower renamed Salesforce Tower after U.S. tenant

LONDON (Reuters) - London’s Heron Tower skyscraper, which was rescued from the threat of receivership last year, will be renamed Salesforce Tower London after the U.S. software company became its biggest tenant by renting an additional 50,000 square feet on Thursday.

Developer Heron International and Salesforce.com said in a joint statement the 15-year deal with Salesforce.com would bring its total space occupied to 77,080 square feet over six floors.

The 46-storey tower was completed in 2011, but it struggled to fill up with tenants in London’s weak office letting markets at the time. Following Thursday’s deal, the developer said it was now 90 percent let or under offer.

Salesforce.com, the world’s biggest maker of online sales software, said the tower would be the company’ largest operation outside the United States.

Miguel Milano, Europe, Middle East and Africa president for Salesforce.com, said the expansion also offered the company the chance to create a briefing centre for its customers in the heart of the City of London financial district.

Salesforce.com did not disclose how much it would pay for the lease.

The tower, owned by a trust that includes developer Heron International, was at risk of receivership and a possible sale last year, after its owners were unable to agree on a refinancing of a 315 million pound loan, despite several months of negotiations. In October, U.S. private equity group Starwood Capital provided a 288 million pound refinancing facility to the skyscraper.

As well as Heron International, headed by property entrepreneur Gerald Ronson, other owners of the building include Oman’s largest sovereign wealth fund and Saudi investors.

Reporting by Paul Sandle and Li-mei Hoang. Editing by Jane Merriman

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below