A weekly round up of the latest property news from the central London boroughs.
City of London
Property Week reports that the European Organisation for Nuclear Research, advised by BNP Paribas Real Estate, has sold Monument Place in the City to a private Hong Kong investor. The building was sold for around £90m, reflecting a NIY of 4.6%.
Property Week reports that AXA Investment Managers and Morgan Capital Partners have sold 20 St Andrew Street for more than double what they pad for it in 2015. The buyer was the National Bank of Kuwait, acting on behalf of a private client, and the £73.8m price reflected a NIY of 4.8%. Cushman and Wakefield acted for the buyer.
Estate Gazette and Property Week report that WeWork has confirmed plans for two new City locations: 12 Moorgate and 1 Lloyd’s Avenue.
Estates Gazette reports that Nasdaq is in advanced talks to lease 25,000 sq ft at 22 Bishopgate.
City of Westminster
Property Week reports that Mayfair Capital Investment Management has signed a deal for a new HQ in the West End. It is leasing 5,116 sq ft on the second floor of 55 Wells Street on a 10-year lease at an initial rent of £83.50/sq ft.
Estates Gazette reports that WELPUT have secured nearly 20,000 sq ft of lettings at its recently revamped 20 St James’s Street. ExodusPoint Capital Management has taken 13,136 sq ft on the fourth and fifth floor and EIG Global Energy Partners has taken 5,259 sq ft on the seventh floor in a new ten year lease.
Sellar Property Group has revealed plans for a mixed-use redevelopment of two sites in Bermondsey. The buildings at 40-44 Bermondsey Street and 9-12 Vinegar Yard are arranged in three unites, with the redevelopment providing a potential 160,000 sq ft of officers and retail space.
Estates Gazette reports that Meyer Bergman has bought in Eatsdil Secured to find a funding partner for its £300m Borough Yards development near London Bridge.