Anglo American has relaunched the sale of the historic London headquarters of De Beers at 17 Charterhouse Street, EC1, on a sale-and-leaseback basis.
The mining giant has instructed BNP Paribas Real Estate to find a buyer for the circa 110,000 sq ft building, which will be sold along with 27 flats totalling 20,000 sq ft.
No price is being quoted. However, it is expected to achieve more than £225m-£230m – a net initial yield of around 4.25%.
Anglo American will commit to a 25-year lease at a rent of more than £10m pa with fixed rental uplifts. The forward funding opportunity includes a major refurbishment of the existing offices, a planning application for which was submitted last week.
Anglo American will relocate its HQ to Charterhouse Street after its lease at Carlton House Terrace, SW1, expires in 2020.
The building was originally launched onto the market last year with vacant possession for around £100m.
Oaktree Capital and Quadrant Estates were in talks to buy the building. However, Anglo American halted the sales process in December after deciding to consider a sale and leaseback.
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