A weekly round up of the latest property news from the central London boroughs
City of London
EG reports that Deloitte is poised to return to Athene Place, EC4, in 2020, having agreed terms for a 15-year lease for 80,000 sq ft. The 147,000 sq ft office building was acquired by Henderson Park and Endurance Land from Commerzbank earlier this year for £101m, and is expected to undergo refurbishment.
PW reports that Singaporean investor City Developments has completed the purchase of Aldgate House in the City from Hermes Investment Management and Canada Pension Plan Investment Board for £183m.
City of Westminster
EG reports that Westminster City Council’s arm-length company, CityWest Homes, is to return to council control following resident and councillor concerns.
EG reports that Hellman & Friedman is to move its London headquarters to Paddington next year. It is understood the San Francisco- based private equity firm has leased the top two floors, totalling 20,500 sq ft, at Derwent London’s Brunel Building, W2. Prime rents in the area are £70 per sq ft.
PW reports that Hermes and Canada Pension Plan Investment Board are looking to sell their South Bank Central scheme, SE1, for £280m – a net initial yield of 5.03%. The pair have instructed CBRE to market the freehold estate, which sits on a site of around 113,000 sq ft on the South Bank. South Bank Central totals 263,905 sq ft of commercial space across three buildings: Alto (51,938 sq ft of offices); Vivo (178,681 sq ft of offices); and The Gallery, a 33,353 sq ft leisure and retail.
EG reports that LinkedIn has completed a deal to establish a new London headquarters at Viridis Real Estate’s Ray Building in Farringdon, EC1. LinkedIn has pre-let 83,000 sq ft at the redeveloped former Guardian HQ
Hammersmith & Fulham
EG reports that Aberdeen Standard Investments is to sell fashion designer Victoria Beckham’s global headquarters at 202 Hammersmith Road, W6. Savills has been appointed to market the freehold interest, with offers invited in excess of £15.75m – a net initial yield of 4.73%. The fashion brand signed a 10-year lease on the building last year at an annual rent of £794,471.