The Qatari owners of the Ark in Hammersmith, are nearing a deal to buy 130 Shaftesbury Avenue in the heart of the West End, W1.
Estates Gazette understands the Middle Eastern vehicle is the preferred party to buy the fully let 60,130 sq ft office block from LaSalle Investment Management.
A price of around £67m is understood to have been agreed for the property which is let to tenants including Deckers – which is behind the UGG boots brand. The property generates rental income of £3.1m pa.
A host of bids came in for the West End asset including from a number of UK funds and a Singaporean party that also bid above asking.
LIM instructed DTZ and H2SO to sell the property earlier this year. It was seeking offers in excess of £63m, reflecting a 4.72% net initial yield.
Sources said the Qatari investors vying to buy 130 Shaftesbury Avenue were behind the £67m purchase of Hammersmith landmark the Ark office building, W6, last September.
All parties declined to comment.
joanna.bourke@estatesgazette.com
