Credit Suisse has placed Skanska’s Monument Building, EC3, under off for around £120m – a net initial yield of circa 5%.
The global investment bank is buying the long leasehold of the 94,000 sq ft office scheme, which Skanska developed and completed in 2016. The deal brings Credit Suisse’s recent commitment to the City to more than £200m, as it has also placed Stenprop’s 11 Pilgrim Street, EC4, under offer for just over £80m.
The 10-storey Monument Building, which is next to the Monument to the Great Fire of London, is let to occupiers including M7, TwentyFour Asset Management, Booking.com and Portugese bank Caixa Geral de Depositos.
Savills launched the building in April with a price tag of £130m – a net initial yield of 4.61%.
All parties declined to comment.
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