Midtown block 280 High Holborn, WC1, has been sold for £86m to a private client of Citi Private Bank.
The 69,000 sq ft block has been sold by Hines on behalf of the Hines European Development Fund II (HEDF II).
A price of around £86m was agreed, reflecting a 4.3% yield.
The building is fully occupied by tenants including Gilead Sciences and GL Hearn. Average rents are £56 per sq ft.
Alexander Knapp, managing director of Hines UK, said: “Midtown has undergone a remarkable transformation in recent years, rising in prominence to compete with its City and West End neighbours. It is attracting an increasingly diverse occupier base, and considerable interest from investors.”
JLL and DTZ acted for Hines, Citi Private Bank represented the purchaser.
joanna.bourke@estatesgazette.com
