Three prime city assets collectively valued in excess of £120m have been brought to market.
Aviva Investors is seeking a buyer for the 92,500 sq ft Alder Castle at 10 Noble Street, EC2, less than a year after acquiring it.
Aviva has instructed Jones Lang LaSalle to find a buyer. It is quoting a price of £65.6m, reflecting a 6% yield.
It bought Alder Castle from Aberdeen Immobilien in May 2011 for £62m, a yield of 6.54%.
The City Corporation is also looking to flip two prime assets it acquired less than two months ago.
It has appointed Allsop to seek a buyer for the long leasehold interests in 20 Finsbury Circus and 42 New Broad Street, both EC2, for a combined £55m.
The City Corporation acquired the assets from Valad, together with 15-17 Eldon Street, EC2.
Allsop will market the 85,000 sq ft 20 Finsbury Square for around £44m.
The building is let to Deutsche Bank until 2015 at a rent of £4m pa.
Allsop is already marketing the 22,843 sq ft 42 New Broad Street for in excess of £11.1m, reflecting a net initial yield of 7.87%.
The property is let to Swedbank AB on a 25-year lease, expiring on the 28 September 2015.
The total rent passing is £1,026,688 pa, equating to £44.94 per sq ft overall.
Swedbank AB sub lets to the space to six tenants on leases due to expire in September 2015.
jack.sidders@estatesgazette.com
