Indonesian investor Sinar Mas Land has placed the WeWork-let Cursitor building under offer for around £90m.
Aberdeen Asset Management and Endurance Land instructed Knight Frank to sell the 65,638 sq ft office block in Chancery Lane, WC2, in November for more than £90m – a net initial yield of 4.5%.
WeWork has leased the first to fifth floors at the redevelopment. The serviced office provider has taken a total of 49,212 sq ft on a 20-year lease at an overall rent of £63.50 per sq ft.
The deal means the building is fully let to five tenants within six months of practical completion. It has a passing rent of £4.3m per annum, reflecting £58.64 per sq ft overall.
Previous lettings saw law firm, Corker Binning, take the 6,049 sq ft sixth floor while Preventicum, the London Centre of Preventive Medicine, took 10,812 sq ft of space on the ground and lower ground floor.
Pure Sports Medicine, a sports injury and rehabilitation clinic, is to occupy the retail unit on the ground and lower ground floors.
Aberdeen Asset Management acquired the site from Delancey in 2006 for £35m. The investor completed a redevelopment of the building with Endurance Land in April, creating offices over eight levels with roof terraces and views over London on the upper floors.
CBRE is understood to be advising Sinar Mas Land.
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