A weekly round up of the latest property news from the central London boroughs.
EG reports that South Korea’s KB Securities has placed 125 Shaftesbury Avenue under offer. Almacantar appointed Cushman and Wakefield and CBRE in May to seek offers of £286.5m – a 4.25% yield – for the 190.000 sq ft building. WeWork agreed a a 20-year lease for the 140,000 sq ft of offices last summer. The rent for the two years starting in January 2018 is £65 per sq ft, rising to £81 per sq ft by year nine.
City of London
PW reports that Angelo Gordon and Beltane Asset Management have secured the pre-completion letting go 55 Gresham Street to Investec Asset Management. The deal will see the whole 121,600 sq ft Grade A development leased to Investec which will relocate from its current base at Woolgate Exchange when the development is completed in Q3 2018.
EG reports that Delancey’s Here East has completed a deal that will see the Victoria and Albert museum open a new research centre in Stratford. It is understood that Here East has agreed to lease more than 140,000 sq ft to the V&A for its new Collection and Research Centre. The lease term is 100 years.