Evans Randall Investors is considering options for the future of Riverbank House, the London headquarters of investment manager Man Group at 2 Swan Lane, EC4.
The 320,000 sq ft building is majority let at £60 per sq ft following a 20% rise after a rent review at the end of last year, prompting ERI to appoint CBRE.
A spokesman for ERI confirmed that no decision has yet been taken to formally market the building, although it is understood CBRE has begun sounding out potential buyers should the landlord choose to undertake a disposal.
Based on an average City yield of 4%, the building would be worth in excess of £400m.
The building was prelet to Man in 2010 for 25.5 years but the company has since sublet 170,000 sq ft to Royal Bank of Canada and 81,000 sq ft to Field Fisher.
RBC is to move to Brookfield’s 100 Bishopsgate, EC2, next year and as a result ERI may opt to retain the building and look to take back space from Man Group and relet it to a new occupier.
Evans Randall agreed a £300m deal in 2006 to forward-fund the development undertaken by Pace Investments and Helical.
For Evans Randall it will be the first major process undertaken since former BNP Paribas Real Estate chief executive John Slade joined them as executive chairman earlier this month.
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