Legal & General has bought 26 Throgmorton Street, EC2, from the Church Commissioners for around £17m.
Fronted by a Grade II-listed stone façade, the 22,336 sq ft building comprises offices over the ground to fifth floors and a public house let to Greene King.
The offices, which range in size from 1,500 sq ft to 3,000 sq ft, are multi-let and offer the opportunity to refurbish and let two small units immediately in an undersupplied, core City of London location.
Tim Russell, fund manager at Legal & General Property, said: “Given that there is a shortage of office suites of the size offered here and the majority of supply side responses coming forward are focused on larger floorplates, we have already identified asset management opportunities to ensure the building realises its full rental potential.”
GS Capital Advisors represented Legal & General Property; Gryphon Property Partners advised the vendor.
