CRBE to advise on IDI Gazeley sale
Brookfield has appointed CBRE alongside Morgan Stanley to advise on the sale of the European arm of its logistics business, IDI Gazeley. The business is valued in excess of €2bn (£1.8bn). Morgan Stanley is already undertaking a process to refinance the business and reduce its cost of debt ahead of a sale.
10 Bloomsbury Way on the market
The Livingstone brothers’ London & Regional Properties has instructed Savills to sell 10 Bloomsbury Way, WC1, for £214.7m. The asking price for the 165,000 sq ft building reflects a yield of 4.3%. It is let to seven tenants, including digital advertising firm Criteo and serviced office provider The Office Group.
Stream Field picks up City office
Viridis, which is backed by the Jameel family of Saudi Arabia, has sold 67 Lombard Street, EC3, to Stream Field Investments, a subsidiary of Ho Bee Land, for £129.3m. The price for the 94,000 sq ft office building reflects a yield of 4%. The property is multi-let to six tenants. CBRE and Cushman & Wakefield advised Viridis on the sale.
Storey time for British Land
British Land has launched Storey, a new brand providing flexible workspace for growing businesses of between 20 and 70 people seeking additional space on flexible terms. Storey will operate within British Land’s existing London assets, predominantly at its Broadgate, Paddington Central and Regent’s Place campuses.
HEAR BL’s Chris Grigg explain the move into flexible workspace at www.egi.co.uk/news/podcasts
