A weekly round up of the latest property news from the central London boroughs.
City of London
PW reports that Aviva Investors has acquired the long-leasehold interest on 101 Moorgate in the City of London from Transport for London. It plans to develop a mixed-use retail and office scheme on the site, which is opposite the new Liverpool Street Crossrail station.
PW reports that DTZ Investors has appointed Cushman & Wakefield to sell The Minories Collection which comprises 30 Minories and Writers House, which together offer just under 100,000 sq ft of office and retail space. The majority – 90,119 sq ft – is in mixed-use 30 Minories. With just the top floor of the block vacant, the building is let to 19 tenants from a range of sectors, including Crispin Speers & Partners and Morgan Spencer.
PW reports that LaSalle Investment Management has sold 81-82 Gracechurch Street in the City of London to London and Oxford Group for £15.25m.
EG reports that Mitsubishi Estate London is looking to sell 8 Finsbury Circus, EC2, for in excess of £260m. Savills has been appointed to find a buyer for the 160,000 sq ft building, which Mitsubishi Estate London and Stanhope redeveloped in 2016. The quoted sale price reflects a yield of 4%.
City of Westminster
PW reports that BCP Asset Management is considering selling the De Beers Jewellers building at 45-50 Old Bond Street for around £210m, reflecting a 2.8% yield.
EG reports that Lazari is in talks to buy 23 Savile Row, W1, for more than £270m from LaSalle Investment Management and Quantum Global Real Estate. JLL was instructed to sell the 103,000 sq ft office building, owned by the pair’s joint venture, Plaza Global Real Estate Partners, early last year for around £300m – a 3.8% yield.
PW reports that CLS Holdings has completed the acquisition of London office building 9 Prescot Street for £53.9m. The 96,948 sq ft multi-let office is 100% let to nine tenants with a weighted average unexpired lease term of two years to breaks.