A weekly round up of the latest planning and property news from the central London boroughs.
PW reports that Mactaggart Family & Partners has sold Holborn Hall to a private investor for around £22m, reflecting a NIY of 4.9% and a capital value of £835/sq ft. The former Holborn Town Hall, a mixed-use grade II-listed building at 193-197 High Holborn, comprises 26,280 sq ft of office and retail space.
City of London
EG reports that GPE has agreed a three-year lease with flexible office provider Knotel at 55 Basinghall Street, EC2. Knotel will take 82,000 sq ft at the 176,000 sq ft City Place House until its redevelopment in 2021.
EG reports that asset manager Intermediate Capital Group and accountancy firm Crowe have taken a combined 86,500 sq ft at The Ludgate, 55 Ludgate Hill, EC4. Greycoat Real Estate and Goldman Sachs International are refurbishing the 105,000 sq ft of office space across the building, having bought it from LGIM Real Assets in July 2018.
City of Westminster
EG reports that CPPIB and Hermes Investment Management are looking to sell Haymarket House. The 123,122 sq ft property currently provides 35,431 sq ft of ground floor retail, with tenants including The Comedy Store and Tiger Tiger on long leases. Above the retail is 81,009 sq ft of office space, the majority of which is vacant. CPPIB and Hermes IM acquired the property in 2015 from Landsec for around £160m.
EG reports that Genting is planning to sell stakes in its freehold at 19 Old Park Lane. Genting has appointed CBRE to sell Project Tyburn, which also includes part of the Nobu London restaurant, a majority stake in Colony Club Casino and nine of 19 luxury serviced apartments, for £68m.