Weekly round up of the latest planning and property newsletter concerning the central London boroughs.
EG reports that the Royal Free Charity has exchanged contracts to sell the current site of the Royal National Throat, Nose and Ear Hospital for around £55m. Groveworld has acquired the 1.5 acre site at 330 Grans Inn Road.
PW reports that Savills IM completed its purchase of 125 Shaftesbury Avenue for £267m. The acquisition from Almacantar was made on behalf of Korean institutional investors managed by Vestas. All of the 140,00 sq ft office space is leased to WeWork on a 20-year term. The 37,000 sq ft of retail space is let to five tenants.
PW reports that Red Bull UK has sublet almost a third of its London HQ at Seven Dials Warehouse to global architectural design firm WATG.
City of London
PW reports that Dukelease is under offer to buy Ibex House from Israeli pension fund Harel Insurance & Financial. The 191,144 sq ft building was put on the market via Allsop at a price reflecting a yield of 5.02%. The property is let to 28 tenants and has almost 20,000 sq fr of vacant office space
PW reports that the City of London Corporation has sold 1-5 London Wall Buildings for £97.1m to a joint venture between Angelo Gordon and Endurance Land. The 203,307 sq ft grade-II listed office complex produces an annual rent for £4m from 36 tenants.
Hammersmith & Fulham
PW reports that Dubai-based investor SRG Holding has bought 202 Hammersmith Road from Aberdeen Standard Investments at a yield of 4.42%.
EG reports that LCR has signed a preset with media and entertainment business Time Out Group for the launch of a new market at Waterloo Station. The conditional lease market for the Time Out Market comprises 32,500 sq ft over two floors, accommodating around 500 seats.
PW reports that W Real Estate has bought the 140,000 sq ft Debenhams store in Clapham Junction for £48m. The property was bought from British Land, which is looking to sell its remaining Debenhams stores and has appointed CBRE to manage the disposals.
EG reports that W Real Estate has bought the freehold of British Land’s Debenhams-let property in Clapham Junction. The building was sold for circa £48m. The 140,000 sq ft store is located at the junction of Lavender Hill and St John’s Road Road.