RREEF is in talks with a number of potential buyers for its 215,000 sq ft Lacon House, WC1.
The fund management arm of Deutsche Bank has appointed Jones Lang LaSalle to advise on a £105m – 7.5% yield – sale of the building at 84 Theobold’s Road.
A source said: “A couple of people have approached RREEF about Lacon House and they are still looking at it. We would expect the style of people to look at it to be highly institutional.”
Nabarro is the largest tenant, occupying 140,000 sq ft with a lease that expires in 2014. However, the law firm is in advanced talks to take up to 150,000 sq ft of space from JP Morgan at Alban Gate, EC2 after a year-long search for a new HQ in the City.
RREEF bought Lacon House in 2004 for £95m.
All parties declined to comment.
jack.sidders@estatesgazette.com
