Royal London Asset Management is in talks to buy 23 Savile Row, W1, from LaSalle Investment Management and Quantum Global Real Estate for around £280m, reflecting a sub-4% yield.
JLL was instructed to sell the Eric Parry-designed property, owned by the pair’s joint venture, Plaza Global Real Estate Partners, earlier this year for around £300m, reflecting a yield of 3.8%.
Plaza Global Real Estate Partners invests worldwide on behalf of the Angolan sovereign wealth fund.
The 103,000 sq ft building was Plaza’s first acquisition since its inception and was purchased from D2 in 2012 for £218m, an initial yield of 4.3%.
Quantum Global have been contacted for comment.
LaSalle IM, JLL and RLAM declined to comment.
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