A weekly round up of the latest property news from the central London boroughs.
City of London
EG reports that Mitsubishi Real Estate London is looking to sell 8 Finsbury Circus 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.
PW reports that Mayfair Capital has agreed a deal to buy Shoreditch office block the Bonhill Building from Legal & General for around £110m. L&G bought the 114.532 sq ft building, which sits on Bonhill Street in the heart of Shoreditch, for £62.6m in 2014, at a net yield of around 5%.
EG reports that Allied London’s £150m-plus acquisition of London Television Centre has collapsed.
PW reports that The Restaurant Group has appointed CBRE to sell its 5-7 Marshalesa Road HQ in Borough with a guide price of £27.5m. It will sign a 10-year lease on completion of the sale.
PW reports that two South Bank offices have changed hands for a combined £82m. CCLA Investment Management has bought the 45,012 sqft Palace House in London’s South Bank from Schroder UK Real Estate for around £50m. The sale is understood to reflect a yield of around 5%. Meanwhile, Darin Partners has bought Kaplan House near London Bridge from an Indian family office for £32.5m in an off-market deal.
AXA IM – Real Estates will open a 20,000 sq ft food hub at its 22 Bishopgate office scheme, which will be run in partnership with hospitality group rhubarb.