Land Securities is to appoint agents to sell the Thomas More Square estate in Wapping, E1, for £300m.
The REIT is looking to sell the 566,000 sq ft estate, developed in 1990, just months after taking full control of the site.
In November LandSec paid £85.3m to the Ontario Teachers Pension Plan to buy out its 50% share, giving it total control of the six office buildings and associated retail, leisure and parking.
LandSec could then collect the £10.9m of rental income generated by the 4.2 acre site’s 534,000 sq ft of offices and 13,000 sq ft of retail.
The site will be sold with planning permission on Building 3 Thomas More Square dating from June 2014.
This allows for the refurbishment of 200,000 sq ft of the office space and adds 15,000 sq ft of new retail and restaurant space across the rest of the estate.
Some 59,000 sq ft of office space remains vacant and 10,000 sq ft of retail space is still to be completed.
The estate was once the home of News International, now News UK, which moved to the News Building by London Bridge in 2014.
Since then LandSec has let out 93,000 sq ft of the News International space in the estate to a variety of tenants including tech firm Equiniti, which took the last space at £15 per sq ft on a short-term lease expiring June 2016.
