Deloitte’s London office at Athene Place, EC4, has been placed under offer by Henderson Park and Endurance Land for around £105m.
Commerz Real instructed GM Real Estate and Savills in May to sell the 133,000 sq ft building at 66 Shoe Lane for around £120m – a net initial yield of circa 5.25%. The price agreed by Henderson Park and Endurance Land represents a net initial yield of circa 6% and a capital value of around £700 per sq ft.
The block is fully occupied by Deloitte which has a lease until 2027, with a lease break in 2019.
Commerz Real acquired Athene Place for its hausInvest Europa open-ended property fund in 2008 from Aberdeen for £92.4m – a yield of 5.7%.
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