A weekly review of the latest planning and property news from the central London boroughs

Camden

EG reports that Adidas has agreed to lease 30,000 sq ft across two floors at Herbal House for a new showroom. Adidas is understood to have taken the first and second floors in the building on a five-year lease with a five-year extension, paying around £65 per sq ft.

City of Westminster

PW reports that Hines has acquired 354-358 Oxford Street for more than £40m for its European Value Fund. Hines plans to convert the vacant site into retail space across the basement, ground and first floors, with 11 one-to-three bed apartments on the second floor and above.

EG reports that  CPPIB has launched the sale of its 50% stake in Nova, which it owns with Landsec. The 5.5 acre site includes homes, offices and shops spread across Nova North, Nova South and the Nova Building. The entire joint holding has been priced at £900, a sale at which would reflect a net initial yield of 4.5%. Nova is currently fully let.

Southwark

PW reports that Southwark Council has bought Courage Yard from Columbia Threadneedle. It was put on the market last September for £89m. The fully let development consists of seven buildings across 2.2 acres of land and offers 69,000 sq ft of offices, 17,900 sq ft of retail and 160 homes.

Wandsworth

PW reports that Spelthorne Borough Council is in advanced negotiations to buy One Embassy Gardens in Nine Elms from Ballymore for around £160m. The 156,000 sq ft building is almost 80% pre-let to Random House.