Workspace is closing in on a deal to buy Salisbury House, EC2, from Lone Star for around £158m.
The flexible business space provider has placed the 245,000 sq ft building at 28-31 Finsbury Circus under offer. The deal would augment Workspace’s existing portfolio of 68 properties across London, predominantly business centres, which total 3.6m sq ft.
Lone Star instructed JLL to sell the building in March for £155m, reflecting a net initial yield of just over 6%. It acquired the building from Moorfield in 2015 as part of the £1bn Project Laser mixed-use portfolio of secondary properties in the UK.
Tenants include Druces, AMX Communications, The Light Practice, Pitman Training and The CityUK.
Workspace said it was in discussions to buy the building, adding: “There can be no certainty that any transaction will proceed and a further announcement will be made by Workspace if and when appropriate.”
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