Topland Group is on the verge of securing the sale of 55 Gresham Street , EC2, at the third time of asking after agreeing a deal with Beltane Asset Management.
Sol Zakay’s company put the 70,000 sq ft office block on the market earlier this summer, attracting bids from a wide range of opportunity funds and UK property companies.
It entered talks with Queensgate-backed Executive Offices Group in July before putting the building under offer to Starwood and Core for around £45m.
But the talks broke down just over a month ago and it has now agreed heads of terms with Beltane, which was among the parties that initially expressed an interest in the opportunity.
Land Securities originally developed 55 Gresham Street and Beltane is now expected to pursue a comprehensive refurbishment of the property.
The City of London Corporation owns the freehold of the building and Topland is selling a long-leasehold interest.
Strutt & Parker is advising Topland.
All parties declined to comment.
jack.sidders@estatesgazette.com
