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Six years after it was purchased by a Korean wealth fund for £75 million, CBRE has been instructed to put the prestigious office scheme One Bartholomew Lane on the market at a new initial yield of over 4%.
Currently home to South Korea’s sovereign wealth fund and the Agricultural Bank of China (one of China’s three largest banks), the 79,800 sq ft site is located opposite the Bank of England right in the centre of the Square Mile, and has long been an eminent hub of global finance. This new sale is likely to attract significant interest, particularly from Asian investors, who have made record-levels of acquisitions in London this year.
Ross Blair, head of Hines UK, says: “There will undoubtedly be strong appetite from investors, and we look forward to opening dialogue with interested parties in the coming weeks.”
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.