KanAm’s 300,000 sq ft Winchester House, EC2, is under offer to Invesco for around £250m, reflecting a sub-6% yield.
The prime city building, home to Deutsche Bank’s HQ, is the penultimate asset to be sold in KanAm’s £1bn central London portfolio, which was brought to market by Knight Frank last autumn.
Deutsche Bank occupies the entire building with a lease break in 2018.
The bank announced plans this morning to axe 1,900 jobs, including 1,500 in investment banking, the majority of which will occur outside Germany.
A 150,000 sq ft requirement trained on Canary Wharf is understood to have been put on hold as the bank reviews its options following the job cuts.
German fund manager KanAm announced plans to sell its central London portfolio of super-prime assets in September 2011 to focus on euro-denominated markets.
Winchester House is the third of the four assets to be sold, following Olswang’s HQ at 90 High Holborn, WC1, and One Exchange Square, EC2, home to the European Bank for Reconstruction and Development.
Thompson Reuters’ European HQ in Canary Wharf at 20 The South Colonnade, E14, remains on the market.
All parties declined to comment.
jack.sidders@estatesgazette.com
