Standard Life confirms 50 Finsbury Square sale

      Standard Life has confirmed that has sold 50 Finsbury Square, EC2, to German fund Deka.   The UK fund has sold the 126,650 sq ft Bloomberg office building for £113m, reflecting a 5.5% yield.   The Foster & Partners-designed building is let to Bloomberg until June 2020 at £6.6m pa – which equates to £53.50 per sq ft on the main office accommodation.   The sale to Deka has come as German funds have slowly returned to the London market since they carried out forced sales two years ago – because of liquidity problems in their domestic market.   Deka’s Dr Matthias Danne said: “We are again seeing attractive investment opportunities in first class properties in the most transparent and liquid property market in Europe”.     Strutt & Parker advised Standard Life; Savills acted for Deka.   darren.lazarus@rbi.co.uk