Almacantar has brought One and Two Southbank Place, SE1, to market with a £935m price tag – a 4% yield.
The 572,616 sq ft office block is home to a 280,000 sq ft WeWork and is oil giant Shell’s HQ.
Almacantar first put the office up for sale through Cushman & Wakefield for £875m in May 2019 . In 2020, discussions to sell it to Blackstone ended.
Mike Hussey, founder and chief executive of Almacantar, told the FT that the resolution of some of WeWork’s issues, in the form of a public listing on the New York Stock Exchange in October last year, had “given people more confidence”.
