McKay Securities has put a City office block up for sale for in excess of £76m.
The price reflects a net initial yield of 4.2%.
The 58,585 sq ft office block, known as Aurum, comes with a 15-year lease in place with FTSE 100 St James’s Place Wealth Management Group.
The tenant pays gross rent of £3.8m per annum and £65 per sq ft overall.
McKay prelet the entirety of 30 Lombard Street, which is located close to Bank station, to St James’s last year.
The REIT acquired the long leasehold interest of the site in 1999 when it provided 36,000 sq ft, generating a rental income of £1.12m per annum. Following a capital raise in 2014, McKay speculatively developed the property, having secured planning consent for a 62% increase in lettable area.
McKay said that a shortage of new, medium-sized office developments in the City core contributed to St James’s early commitment to the space.
The sale is being handled by Knight Frank.
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