Cadillac Fairview buys 25% stake in Stanhope
This consolidates a successful and expanding partnership between Cadillac Fairview and Stanhope in delivering life sciences and workspace projects in the UK, together with broader masterplans. The partners are already working together on three life sciences projects – Oxford North, Cambridge Science Park and White City Place.
In April this year, a joint venture between Cadillac Fairview and Stanhope bought 70 Gracechurch Street, a prime office building situated in the City of London, which has planning consent for a 34-storey tower and 600,000 sq ft development.
Cadillac Fairview joins Mitsui Fudosan and AIMCo as shareholders in Stanhope who between them now own 80% of the company, leaving David Camp and others in the management team with a 20% shareholding.
Stanhope will continue to be management run providing development management services to a wide range of key clients and David Camp will remain as Chief Executive.
Jenny Hammarlund, Head of Europe and Managing Director at Cadillac Fairview said:
David Camp, Chief Executive of Stanhope said:
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