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.
City of Westminster
PW reports that Deka Immobilien, the investment arm of DekaBank Deutsche Girozentrale, has completed the £460m purchase of the Verde office building in London Victoria from Tishman Speyer. The building’s 322,000 sq ft of lettable space is currently occupied by 17 tenants on a long-term basis.
EG reports that Hellman & Friedman is to move its London headquarters to Paddington next year. 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.
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.
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 prelet 83,000 sq ft at the redeveloped former Guardian HQ. Quoting rents at the 113,000 sq ft building start at around £70 per sq ft and increase for the higher floors.
EG 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.