A weekly round up of the latest property news from the central London boroughs

City of London

PW reports that private Middle Eastern investors have exchanged on a deal for 5 King William Street, the City of London home of Japanese Investment Bank Daiwa Capital Markets, for around £90m, which represents a yield of 3.6%.

PW reports that a Singaporean investor has placed law firm DLA Piper’s new City HQ at 160 Aldersgate Street under offer at a price of around £175m, reflecting a sub-5% yield.

City of Westminster

New York gourmet grocer Dean & DeLuca is to make its European debut at the 1,900 sq ft 117 Mount Street. The store is set to open next year.

Royal Borough of Kensington and Chelsea

PW reports that the highest ever rent for Sloane Street has been agreed by Hermes. The company has agreed a rent of £1,050/sqft to move into the former Coutts Bank building located on the corner of Cadogan Place and Sloane Street. Hermes has agreed a ten-year lease for the 5,800 sq ft space.

Tower Hamlets

EG reports that Turkish fashion group Erdem is opening an office at Helical’s The Loom, E1. It has taken 9,200 sq ft on a 10-year lease at a rent of £54 per sq ft.