Canadian investment fund Oxford Properties has gone under offer to buy CBRE’s City headquarters from Legal & General.
It is understood to be paying in excess of £115m for St Martin’s Court at 10 Paternoster Row, EC4, reflecting a yield of around 5.5%.
The 100,000 sq ft building is let to CBRE, which has since sublet some floors, with a lease expiry in 2023.
L&G bought St Martin’s Court from Mitsubishi Estates in 2002 for around £100m, a 6.25% yield.
Jones Lang LaSalle advised L&G.
All parties declined to comment.
Jack.Sidders@estatesgazette.com
