BentallGreenOak has put the leasehold of 7 Bishopsgate, EC2, up for sale for around £55m, on behalf of WELPUT.
The 57,000 sq ft property, located between Bank and Liverpool Street stations, was acquired by WELPUT in 2015 for £49m from Henderson Global Investors, according to Radius Data Exchange.
The freehold is held by the Merchant Taylors Company.
Tenants include insurers Gard UK and Pioneer Underwriters, as well as Shawbrook Bank and City Asset Management.
The sale price reflects a 4.75% yield.
This latest asset sale follows a restructure of the £1bn London-focused fund, which completed earlier this year and saw it switch from an open-ended to a closed ended-structure.
The aim is now to grow the fund’s portfolio, which consists of Warner Bros’ London headquarters on Theobalds Road, WC1; a recently refurbished scheme at 20 St James’s Street, SW1; the Farringdon Road Estate, EC1; two near-term development sites at 105 Victoria Street, SW1; and its rejigged scheme at All Saints Street in King’s Cross, N1, which is currently going through planning. Future purchases will likely include core assets that need a value-add strategy.
Last year BentallGreenOak sold another of WELPUT’s properties, Orion House, to K&K Property Holdings for £130m.
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