A weekly round up of the property news from the central London boroughs.

City of London 

EG reports that that Canary Wharf Group has begun a search for fresh debt that will held against its share of 20 Fenchurch Street (aka The Walkie Talkie).

EG reports that two prime City office buildings have been put on the market for a total of £280m. Aerium has instructed CBRE to sell the leasehold of 1 Wood Street for £190m – a 4% yield. Meanwhile, Royal London Asset Management has instructed GM Real Estate to sell the freehold of 80 Cheapside for £90.3m – a NIY of 5.3%.

City of Westminster 

PW reports that Aberdeen Asset Management has sold 14 St George Street to Joseph Lau’s Chinese Estates for £121.7m, representing a yield of 3.5%.

EG reports that Joseph Lau’s Chinese Estates has bought the Mayfair HQ of Kleinwort Benson for £121.7m – a 3.5% yield. The investor has acquired 14 St George Street from Aberdeen Asset Management. The 51,861 sq ft office is fully let to the bank until 2020 at an average passing rent of £86.88 per sq ft. Colliers advised Aberdeen Asset Management; CBRE acted on behalf of the purchaser.

EG reports that Kojima Properties has put The Grove, 248a Marylebone Road, up for sale. Alsopp has been instructed to sell the 25,000 sq ft prime office asset for £26m – a 4.5% yield. It is arranged over seven storeys and is fully let to multiple tenants.

EG reports that ICG-Longbow is financing Shiva Hotels’ £103m purchase of the car park at 74-77 Wellbeck Street. The debt find manager has supplied a loan of close to £80m, equating to a loan-to-value ratio of just under 80%.  Shiva intends to redevelop the West End car park into a 145-bed hotel based on designs drawn up by architects Sheppard Robson.

Tower Hamlets

Delancey and the LRC Group are to develop a £750m scheme on the Royal Mint Court site at Tower Bridge. The JV has submitted plans that will comprise five buildings and will provide 550,000 sq ft of offices and 50,000 sq ft of retail and leisure space.

EG reports that Gorkana Group is set to move from its office at 140 Old Street to 5 Churchill Place. The media database company is under offer to take 40,000 sq ft at the 319,000 sq ft building, where quoting rents are £42.50 per sq ft. It is due to sign a 13-year lease with rent reviews in 2019 and 2024.