A round up of the news over the past seven days in the central London boroughs

City of London

PW reports that Shin Kong Life has become the latest Taiwanese insurance firm to set its sights on the London Real Estate market by placing a £135m City office under offer. The company is close to acquiring 40 Gracechurch Street from Cornerstone Real Estate Advisors at a yield of 4.1%.

City of Westminster

CoStar and the Evening Standard reported yesterday that Great Portland Estates has agreed terms to sell its former West End HQ at 60 Great Portland Street. The property has gone under offer to TH Real Estate for in excess of the asking price of £100m, thought to be closer to £105m.

PW reports that Land Securities has pre-let 92,000 sq ft at the Zig Zag Building to Deutsche Bank on a 15-year lease, taking the building from 37% to 77% pre-let.

EG reports that Cornerstone Real Estate Advisers Europe has bought the 44,200 sq ft Davidson Building at 5 Southampton Street for £66.2m – a 4% yield – from Derwent London. It is fully let to six tenants including the British Computer Society. Michael Elliott advised Cornerstone; CBRE and JLL represented Derwent.

EG reports that Grosvenor Fund Management is selling Almack House, 28 King Street, for £225m – a 3.6% yield. JLL has been appointed to market the 97,563 sq ft property, which is fully let and was refurbished in 2009.

EG reports that Blackrock has appointed Alchemi Group as development manager for 5 Strand. The company will work with Adijaye Associates on the 75,000 sq ft, 1980s office building, which is home to Land Securities.

EG reports that House of Fraser is preparing to launch a search for a new HQ as Derwent London works up plans to redevelop 19-35 Baker Street. Derwent and JV partner the Portman Estate have drawn up plans for a 250,000 sq ft office-led development, which will also include substantial retail elements.

Hackney

EG reports Rocket Investments has secured a £240m financing package to develop a £400m mixed use tower scheme at 145 City Road, a 40-storey residential tower with 302 flats. The scheme also includes an 82,000 sq ft office block and 9,000 sq ft of shops, cafes and restaurants.

Hammersmith and Fulham

EG reports that Capital and Counties is conducting a strategic review of the Olympia exhibition centre, which could lead to a £300m sale. It has appointed CBRE and Rothschild to consider options for the site.

Southwark

EG reports that Southwark Council has appointed a development partner to transform Peckham Town Centre Car Park into a multi-level creative community for local artists and entrepreneurs. The Collective and architect Carl Turner, the jv behind Pop Brixton, will transform the car park into 20,000 sq ft of studios, workshops and creative workspace.