Resolution Property is close to doubling its money with the sale of a Shoreditch office block let to tech darling Mind Candy, the company behind Moshi Monsters.
Legal & General is under offer to buy 15 Bonhill Street, EC2, from Resolution for more than £63m, a 4.7% yield.
Resolution bought the 110,000 sq ft building from Land Securities for £33.1m – 7.61% yield – two years ago and undertook a refurbishment before letting almost 30,000 sq ft to Mind Candy in July 2012.
L&G was attracted by the £26 per sq ft average rents in the building.
Allsop advised Resolution.
Meanwhile, L&G has put the headquarters of Coutts Bank at 440 Strand, WC2, up for sale for £169m – a 4.5% yield. It bought the property as part of a £550m portfolio in March.
DTZ is advising.
jack.sidders@estatesgazette.com
