Korea’s National Pension Service agrees £1.2 billion sale and leaseback deal with Goldman Sachs

In the latest demonstration of strong overseas demand in the City, Goldman Sachs has agreed a sale and leaseback for its new London headquarters at Plumtree Court, which is located in the capital’s financial district.

The US banking giant has signed a 25-year lease on the 826,000 sq ft space (with the option to break after 20 years), and is due to relocate in mid-2019.

NPS is South Korea’s biggest investor and the deal is the largest completed in the City so far this year. It is also yet another clear indication that overseas demand for Central London property is continuing, despite some doubts around the strength of the London market ahead of Brexit.

Richard Gnodde, head of Goldman Sachs’ international operations, explains: “The development of Plumtree Court and our signing of a long-term lease demonstrates our continued commitment to London.”

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