A weekly round up of the latest property news from the central London boroughs.
City of London
As seen in Property Week: The Royal Bank of Scotland has appointed agents to sell its former London Headquarters in the City. Cushman & Wakefield has been instructed to sell 280 Bishopgate at a £173m guide price.
As seen in Property Week: OakNorth has provided a £16.5m property development finance facility to private investment office WMG for the development of a new residential-led mixed-use 17-storey building in Aldgate, London.
As seen in Property Week : Helical and AshbyCapital have acquired a major development site in Farringdon in a 50:50 joint venture. The JV partners have bought the site, located on the corner of Charterhouse Street and Farringdon Road, from private clients of Nuveen Real Estate.
City of Westminster
As seen in Property Week: Royal London Asset Management has bought 25 Soho Square in London’s West End from Aviva Investors for £75.3m.
As seen in Estate Gazettes: TFL seeks above £110m for 55 Broadway. Transport for London is seeking bids of more than £110m for the sale and leaseback of its iconic offices at 55 Broadway, SW1.
As seen in Property Week: The owner of the 15-acre Soho, Carnaby Street, and Covent Garden estate posted a 0.4% rise in NAV to £9.95 for the half-year to the end of March, while net property income up 5.2% to £48.6m following a 6.4% like-for-like increase in rents receivable.
As seen in Estate Gazettes: Reuben Brothers is understood to be in advanced talks to acquire Clareville House, SW1, for around £66m from DTZ Investors, on behalf of the National Grid UK Pension Fund. Located at 26-27 Oxendon Street, close to Leicester Square, the 58,000 sq ft office building was refurbished by Helical on behalf of the pension fund, completing in 2009.
Hammersmith & Fulham
As seen in Estate Gazettes: L’Oreal is in talks with Stanhope, Mitsui Fudosan and AIMCo to pre-let around 110,000 sq ft at White City Place. The French cosmetics firm has a similar footprint at its current premises at 255 Hammersmith Road, on a lease due to expire in 2022.
Royal Borough of Kensington & Chelsea
As seen in Property Week: The Thackeray Estate has sold the freehold of its luxury Chelsea residential building, One Brompton, to a private Asian buyer for more than £20m.