Hayfin Capital Management and Capreon Acquire 280 Bishopsgate Office Building in London's City

Hayfin Capital Management announced the acquisition of 280 Bishopsgate, a 13-story Grade-A office building in the City of London, in partnership with Capreon. Santander Bank and Caixa provided debt financing for the transaction, the firm said on Nov. 2, 2026.

The building sits close to Liverpool Street station and links the City with the neighborhoods of Spitalfields and Shoreditch. The acquisition is the second City office purchase by Hayfin and Capreon in under a year, following their December 2025 purchase of 70 St Mary Axe from Nuveen.

280 Bishopsgate Acquisition: Deal Details

Hayfin Capital Management led the transaction, with Capreon supporting. The two firms have worked together on real estate investments since 2017, according to the announcement.

Macfarlanes acted as legal and tax adviser, and Knight Frank served as commercial due diligence adviser to Hayfin and Capreon. Santander Bank and Caixa provided the debt financing.

Hayfin said the two deals reflect its continued focus on Central London offices and its track record in European and UK real estate, with more than €4 billion deployed across over 40 transactions since inception.

Property Profile: Redeveloped Grade-A Office Near Liverpool Street

280 Bishopsgate was formerly the headquarters of the Royal Bank of Scotland. The building underwent a comprehensive redevelopment completed in 2022, which delivered high-quality amenities and extensive outdoor space for occupiers.

Hayfin said sustainability and wellbeing were central to the refurbishment. The building is now the largest WELL Platinum office space in the UK and the first multi-tenanted building to achieve that rating. It is also one of only two BREEAM Outstanding buildings delivered in London in 2022.

The property is fully let to occupiers including the global law firm Baker McKenzie, Aberdeen Asset Management and Cognizant. CBRE Global Investors previously acquired the building in 2019 for approximately £183 million.

Executive Comments From Hayfin and Capreon

Carlos Colomer, Managing Director in the Private Credit Team at Hayfin, said: "280 Bishopsgate is an exceptional building in one of the best-connected locations in the City, complementing our recent acquisition of 70 St Mary Axe with Capreon. Its recent refurbishment has delivered some of the highest-quality and most sustainable workspace in London, which is reflected in the calibre of its tenants."

Colomer added: "We are pleased to be partnering with Capreon once again and look forward to supporting the building's continued success."

Raphael Noé, CEO at Capreon, said: "We are pleased to be investing in 280 Bishopsgate, a landmark City office tower that reflects the quality and long-term value we seek across our portfolio. Following its full redevelopment in 2022, the building offers prime, high-specification workspace and a long, reversionary income profile."

Noé said Capreon sees an opportunity to apply its asset and investment management expertise to enhance the building's performance and appeal to occupiers. He also noted a personal connection to the asset: "My grandfather, Solomon Noé, owned the freehold of 280 Bishopsgate over two decades ago."

Related Deal: 70 St Mary Axe

Hayfin Capital Management and Capreon bought 70 St Mary Axe, known as the "Can of Ham," from Nuveen in December 2025. The 21-story Grade-A office tower opened in 2019. The purchase price was approximately £340 million. Hayfin majority-funded the acquisition, and Capreon also acts as asset manager.

Nuveen had marketed the building at a guide price of £322.3 million after previously seeking approximately £400 million. A Blackstone bid of about £300 million was rejected.

City of London Office Market Context

Savills data for the first half of 2026 shows City Grade-A tower vacancy fell to 1.9%, while overall City office supply stood at 9.6 million square feet, equivalent to a 7.0% vacancy rate. Prime rents rose 19% year over year to £116.73 per square foot, and average Grade-A rents increased 7% to £76.21 per square foot.

The gap between the 1.9% vacancy rate for Grade-A towers and the 7.0% rate across the City shows how availability differs between the highest-quality buildings and older stock. Against that backdrop, Hayfin Capital Management and Capreon have concentrated their City purchases on recently built or redeveloped assets near major transport hubs, with Santander Bank and Caixa providing debt financing on the latest deal.

Sources

Hayfin: Hayfin and Capreon acquire landmark London office building 280 Bishopsgate