GAW Capital is leading an Asian consortium to buy a 480,000 sq ft London office development let to Google for £500m.
It has agreed a deal to buy 123 and 151 Buckingham Palace Road, SW1 for an initial net yield of just over 5%.
The two properties are linked, but are separate assets.
San Francisco-based fund manager Divco West, advised by London Global, owns 123 Buckingham Palace Road and 151 is owned by Malaysian hajj pilgrims’ fund Lembaga Tabung Haji.
This deal would give the GAW-led consortium an opportunity to pool both developments and deliver almost 500,000 sq ft of refurbished space to the restricted West End market.
Eastdil Secured advised Divco West, and London Global on the sale of 123 and 151 Buckingham Palace Road.
