Chinese life insurance company Taikang Life has exchanged contracts to buy Milton Gate at 60 Chiswell Street, EC1, from AGC Equity Partners for just under £200m, a yield of circa 5%.
The 200,000 sq ft office block is fully let to Addleshaw Goddard.
The law firm pays an average rent of just under £50 per sq ft on a lease expiring in 2025.
It is Taikang’s first UK property deal.
Gaw Gapital Partners is advising the buyer; Savills is acting for the vendor.
