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Greycoat and Cheyne Capital have sold 165,000 sq ft 8 Salisbury Square in London’s Midtown to a Hong Kong investor. The companies purchased the building in 2014 for £66 million, when it was occupied by KPMG. It then underwent extensive refurbishment in 2015 after KPMG vacated, which saw the addition of another 46,000 sq ft of office space as well as five roof terraces.
Cushman & Wakefield and Eastdil were appointed to sell the asset and Colliers International acted for the buyer. In joint statement made regarding the sale, the vendors said: “The 165,000 sq ft former HQ of KPMG had been comprehensively refurbished and extended, providing 10 years of multi-let income with a bedrock of government backed tenants… The most recent letting to ServiceNow achieved approximately £75 per sq ft and demonstrated the strong rents that this property has achieved in a supply-starved market.”
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.