Threadneedle Investments has exchanged contracts to buy 1 Neathouse Place in London’s West End for £102m – a circa 5% yield.
The 117,000 sq ft block in Victoria, SW1, is the headquarters of international mining giant BHP Billiton.
Colliers acted for vendor IVG. DTZ advised Threadneedle.
The mixed-use scheme is expected to support 2,500 jobs once complete
The site holds hybrid planning consent for 1,493 homes, 475 hotel beds and 31,000 sq ft of commercial space
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