Hermes and CPPIB have exchanged on the sale of 138 Cheapside, EC3, to Nan Fung.
The Hong Kong-based company paid £83.5m for Cheapside House, which represents a blended initial 5.2% yield.
The building covers 69,593 sq ft of space and is fully let to a variety of tenants. Included in that space is 10,773 sq ft of retail with direct views of St Paul’s Cathedral.
JLL represented Hermes with Fineman Ross representing Nan Fung.
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