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

Camden

PW reports that CBRE Global Investors has purchased two properties on Gray’s Inn Road from MHA for around £130m. The first building, 123-129 Gray’s Inn Road, comprises 18,353 sq ft. It is entirely let to Eastman Dental Institute for a term of 35 years, expiring on 28 September 2033. The second building, 39-41 Gray’s Inn Road, has a 999-year lease with a 15-year lease to The Co-Operative and comprises around 4,500 sq ft spread over basement and ground floor.

EG reports that Ted Baker has purchased its offices at King’s Cross from liquidators to Eastfield Holdings. Begbies Traynor is selling the 262,800 sq ft Canal Reach campus, also let to Verizon. Ted Baker is understood to be paying more than £90m. Crossland Otter Hunt and Robert Irving Burns advised on the sale; Noble Harris advised Ted Baker.

City of London

PW reports that Orchard Street Investment Management has acquired 4 Coleman Street on behalf of wealth management company St James’s Place, from German fund manager GLL. It was an off-market deal of around £60m, reflecting a yield of 3.8%. GLL was advsied by GM Real Estate. Savills acted for Orchard Street.

EG reports that Barts and the London Charity have agreed an off-market desal to sell the 44,300 sq ft 1-3 Eldon Street to Standard Life for £27.5m, reflecting a 4.65% NIY. GS Capital advisers acted for Standard Life; Gryphon Property Partners advised BLTC.

EG reports that the Church Commissioners have sold 17 Moorgate to a private Japanese investor for £17m – a 3.5% NIY. The Church Commissioners bought the multilet office and retail building from Stockland in 2011 for £10.5m, reflecting a 5.5% NIY. Gryphon Property Partners advised the vendor; Savills acted for the purchaser.

City of Westminster

Property Week reports that Apple has agreed a deal to lease the whole of 21 Glasshouse Street. It is under offer to occupy 25,000 sq ft at the six-storey building, managed by the Crown Estate.

Property Week reports that Tesla Motors is to open a flagship store at 449 Oxford Street. Savills advised Tesla.

Property Week reports that Hong Kong developer Wing Tai Properties has bought the long leasehold of 35 Berkeley Square for £19.5m at a yield of 2.5%. The six-storey building is multi-let to eight occupiers until December this year. PW says that Wing Tai Properties will retain the building as a long-term multi-let office property. Knight Frank advised the seller. Cushman and Wakefield advised Wing Tai.

The Economist Group has appointed JLL to find a buyer for its 25 St James’s street building. The price is £135m, a yield of sub-4%.

EG reports that EE has signed up for its fifth shop on Oxford Street. It is moving into the former Claire’s Accessories at 488 Oxford Street, a 2,150 sq ft shop with a 10-year lease. The Landlord, the Libyan Foreign Investment Company, was advised by James Andrews International; Savills acted for EE.

EG reports that Deustche Asset and Wealth Management is close to striking a deal to take 90,000 sq ft of office space at the ‘Zig Zag’ building in Victoria. JLL advised Deustche; Cushman and Wakefield, JLL and Knight Frank are leasing agents on the building.

PW reported yesterday that Nadler Hotels has taken a 25-year lease at 8-10 Palace Street, which it will turn into a 73 bed operation. It forms part of the Girlguiding UK HQ in Victoria. Gerald Eve advised Girlguiding UK on the deal.

Hammersmith and Fulham

CoStar News reports that construction work has begun on a new speculative office scheme at 174 Hammersmith Road. The landmark 58,100 sq ft building, being developed by Kier Property and its joint venture partner Investec, will continue to be known as Kings House – in homage to the Kings House Theatre that once stood on the site.

Tower Hamlets

CoStar News reports that McLaren Construction has been appointed as the lead design and bild contractor on Essential Living’s Farrier House scheme.