Marcol offers Royal Exchange
Marcol has instructed agents to sell the offices at the Royal Exchange, EC3, one of the most recognisable buildings in London. Michael Elliott is seeking bids in excess of £55m – a 4.2% yield – for the 68,000 sq ft offices, which are multilet on passing rents of just £40 per sq ft. The building is held in a fund which is being broken up by Marcol. Several assets have already been sold, also through Michael Elliott. Deerbrook bought 100 Grays Inn Road, WC1, for £40m – a 4.25% yield – and a private overseas client of Cushman & Wakefield bought 85 Gracechurch Street, EC3, for £59m – a 4.7% yield. Three smaller assets remain to be sold.
To send feedback, email jack.sidders@estatesgazette.com or tweet @JackSidders or @estatesgazette
Marcol has instructed agents to sell the offices at the Royal Exchange, EC3, one of the most recognisable buildings in London. Michael Elliott is seeking bids in excess of £55m – a 4.2% yield – for the 68,000 sq ft offices, which are multilet on passing rents of just £40 per sq ft. The building is held in a fund which is being broken up by Marcol. Several assets have already been sold, also through Michael Elliott. Deerbrook bought 100 Grays Inn Road, WC1, for £40m – a 4.25% yield – and a private overseas client of Cushman & Wakefield bought 85 Gracechurch Street, EC3, for £59m – a 4.7% yield. Three smaller assets remain to be sold.
To send feedback, email jack.sidders@estatesgazette.com or tweet @JackSidders or @estatesgazette
