Deutsche Asset and Wealth Management is preparing to sell the Helicon building at 1 South Place on Finsbury Pavement, EC2.
The 130,000 sq ft multilet office block is expected to attract bids in the region of £140m, reflecting a 4.5% net initial yield.
Around half of the building has been refurbished and relet, with the remainder on short leases, offering potential purchasers the opportunity to secure significantly higher rents.
The most recent letting in the building, to Swedish online marketing company Trade Doubler, was secured at £54 per sq ft.
Deutsche, which holds the building within one of its European funds, bought the building in 2004 for £100m – a 6% yield.
JLL has been appointed to advise on the sale, formal marketing for which is expected to take place towards the end of the summer.
