A weekly round up of the Planning and Property News from the central London boroughs.

Camden

Market Tech, the owner of Camden Market, has agreed a £900m secured debt facility with an initial term of 10 years. The facility, arranged by AIG Asset Management, comprises a committed £300m term load that will be drawn down immediately, with a further £100m to be drawn down in May 2016. A further £50m is available for draw down, subject to certain conditions, until December 2017.

City of London

Plans for the tallest building in the City of London have been unveiled. The 73-storey development at 1 Undershaft in the City of London will rise to 309.6m and proposes the creation of a large public square at the base of the tower, a free public viewing gallery, education centre and restaurant at the top of the tower.

CoStar News reports that Poly Real Estate Group is close to making its debut purchase in London with the £140m acquisition 5 Fleet Place. Five Fleet Place produces an annual income of c.£6.25m and a sale at £140m would reflect a net initial yield of just under 4.5%. ADIA paid £112m for the building in April 2008, reflecting a capital value of £861.54 per sq ft.

City of Westminster

PW reports that Thor Equities, in partnership with London-based Chenvari Investment, has closed on a deal to buy 145 Oxford Street for £40m. Thor bought the building from a private overseas investor from Singapore, and the price is understood to reflect a yield of 2.5%.

EG reports that Chinese investors Citic Capital and Cindat Capital Management have together bought a 70% stake in Brockton Capital’s 60 Curzon Street, W1. The price paid values the site at around £200m.

EG reports that Meyer Bergman is in advanced talks to buy 5 Old Bond Street, W1, for around £160m. The 23,265 sq ft building, also known as Standbrook House, is the flagship of fashion house Alexander McQueen. The fund manager already owns the neighbouring Burlington Arcade.

PW states that 1 Vere Street, W1, is now fully let after private equity firm Dunedin agreed a deal to take the 2,775 sq ft first floor of the building. The building, which is also home to Greenbrook and Greenvale Capital, is owned by Ponte Gadea.

EG reports that Ponte Gadea is under offer to buy Almack House, SW1, from Grosvenor for more than £225m.

EG reports that St George’s Hall Holdings has bought the long leasehold interest in 192-194 Oxford Street and 26 Market Place, W1, from HBOS UK Property Fund for £44.8m.

PW reports that Queensgate Investments is to spend around £100m refurbishing the Holiday Inn London Kensington Forum.

EG states that social media start-up Snapchat is in advanced talks to lease the whole of Columbia Threadneedle’s 12,260 sq ft 7-11 Lexington Street, W1.

Hammersmith & Fulham

EG reports that Victoria Beckham is set to be the first tenant at Stanhope and Mitsui Fudosan’s White City Place. The designer has placed under offer the entire 40,000 sq ft Garden House building, W12.

Islington

EG reports that Adobe is under offer to lease 40,000 sq ft at Derwent London’s White Collar Factory on Old Street, EC1, at a rent of around £62.50 per sq ft.

Kensington & Chelsea

EG reports that Ilona House Securities has secured consent for a mixed-use scheme at 279 King’s Road, SW3. The 40,000 sq ft development will be anchored by an Everyman cinema and include 11 flats and ground-floor shops.

Southwark

McKay Securities has sold two adjoining office buildings on Blackfriars Road to Barts Charity for £21.5m. The deal on the offices opposite Southwark underground station represents an initial yield of 3.8%.