The only asset on Chiswick Park, west London , not owned by Blackstone, is poised to be sold to Standard Life Investments, for over £70m.
The asset manager, is under offer to buy QVC’s headquarters at Chiswick Park. Market sources said an offer in the region of £72m has been made.
Schroders appointed CBRE in June to sell the 165,000 sq ft office building for £69m – a circa 5.5% yield.
Schroders bought Building 8 from the Chiswick Park Unit Trust as an office development in 2010 for an initial £6.5m and an expected valuation on completion of around £50m.
Home shopping channel QVC agreed a pre-let for a 21-year deal at £30 per sq ft, with fixed rental uplifts of 2.5% pa at the first two rent reviews.
Blackstone bought the remainder of Chiswick Park for £480m in March 2011.
Jones Lang LaSalle is understood to be representing Standard Life. All parties declined to comment on the purchase.
