A weekly round up of the latest planning and property news from the central London boroughs.
City of London
EG and PW report that Greycoat and an affiliate of a real estate fund advised by Morgan Stanley Real Estate Investing (MSREI) have bought Premier Place in Devonshire Square from the Royal Bank of Scotland (RBS) for around £145m. The 230,000 sq ft building comprises office and retail accommodation and will be acquired with vacant possession in January 2018.
PW reports that Union Investment has completed the £220m acquisition of 160 Aldersgate Street, DLA Piper’s HQ, in the City of London. It was sold by Greyhound Investing Corporation and will be transferred to the open-ended real estate fund Unilmmo: Deustchland.
EG reports that Standard Life has instructed agents to subsidise 23,000 sq ft in the Gherkin as it consolidates offices following its merger with Aberdeen Asset Management. JLL has been appointed to market floors 30 and 31 at 30 St Mary Axe for around £75/sq ft.
EG reports that Samsung Asset Management is in exclusive talks to buy AshbyCapital’s 200 Aldergsate for close to £320m.
City of Westminster
PW reports that Investment management firm Putnam Investments has signed a 10-year lease to occupy the first floor at Legal & General Investment Management’s 16 St James’s Street. Putnam has taken 7,148 sw ft at a rent of £100/sq ft on a lease with a break option at the fifth year.
EG reports that Lazari Investments has bought the UK HQ of Fujitsu for £123m. It has bought 22 Baker Street and its adjoining addresses from the Lotus Family Trust. The price reflects a yield of close to 3.75%.
EG reports that Aberdeen Standard Investments has instructed agents to sell its Hammersmith office block 12 Hammersmith Grove, W6, for £170m – a 5.2% yield.
PW reports that Aerium and Allied London has let 37,000 sq ft of space at Herbal House in Clerkenwell to PhotoBox Group. The company has agreed a 10 year lease for the basement, lower ground, ground and first floors of the 10-storey building.