The Crown Estate is in exclusive talks to sell a £67m block just off London’s Trafalgar Square to Simon Reuben’s Motcomb Estates.
The Queen’s property company is close to selling a 125-year long leasehold on Golden Cross House at 8 Duncannon Street for around £67m – a 4.23% yield.
Motcomb Estates is the property company of billionaire Simon Reuben, which owns, among other assets, Millbank Tower in Whitehall.
The Crown put up for sale the long lease in May, through Colliers International, in order to focus on its core holdings in Regent Street and St James’s.
The 66,500 sq ft asset provides 41,000 sq ft of office space, which is fully let to serviced offices firm MWB Business Exchange until 2029 at £1.66m pa.
There are seven retail tenants on the ground floors, including HSBC, Pizza Express and the Co-op.
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