This weeks news from the central London boroughs – 29/1/16

Camden

Land Securities has agreed a deal to sell 330 High Holborn to a private Singaporean investor for around £140m. GM Real Estates advised Land Securities and Colliers advised the Singaporean investor.

New Look is under offer to lease 120,000 sq ft at the Argent-led redevelopment of King’s Cross. The high street fashion retailer has agreed to pay more than £70 per sq ft to lease the majority of building R7 at the 67-acre development.

City of London

Hermes Investment Management has acquired One America Square in London from real estate funds managed by Blackstone for £130m.

EG reports that Schroder Real Estate has exchanged contracts to buy 55 Bishopgate, EC2, for £187.5m – a 4.9% yield – from Canada Pension Plan Investment Board. It is purchasing the 198,000 sq ft freehold on behalf of a joint venture between Immobilien Europa Direkt, a Swiss pan-European fund managed by Schroders, and a separate account client. Strutt & Parker advised Schroders; CBRE acted for CPPIB.

EG reports that Quadrature Capital Management is under offer for 10,000 sq ft third floor in the Leadenhall Building (Cheesegrater). Cushman & Wakefield and JLL are letting agents on Leadenhall Building; REM Roberts acted for Quadrature.

City of Westminster

EG reports that UK & European Investments has sold 9 Kingsway to a private Spanish client of French bank BNP Paribas for £45m – a yield of 3.8%. The 37,500 sq ft building is fully let with rents as high as £65 per sq ft. JLL acted for the vendor; BNP Paribas Real Estate advised the purchaser.

EG reports that Capita is under offer to lease the whole of Derwent London’s Copyright Building – 85,000 sq ft office element – on Berners Street. In addition to the office space, the scheme includes 20,000 sq ft of shops.

Southwark

Fashion retailer Matchesfashion.com has signed a lease for 35,000 sq ft across the seventh and eight floors at The Shard.

Tower Hamlets

The Office Group is in talks to become the first tenant at British Land’s Blossom Street development. It is looking at 52,000 sq ft. JLL and Colliers International are letting agents on the development; Cushman & Wakefield is acting for the Office Group.