Yahoo Finance Boost for London office market, as £255m purchase of Deloitte workspace agreed
Central London’s office investment market got a boost on Monday, as a £255 million deal was inked for one of Deloitte’s bases.
Property investor Henderson Park said it has exchanged contracts for the sale of Athene Place at 66 Shoe Lane to a consortium led by Wing Tai Properties Limited, a Hong Kong based real estate company.
Commitment to buy comes despite some market concerns about how demand for offices will look following the pandemic.
Scores of people have worked from home since March last year, and some bosses are expected to offer more flexible working in future.
However, a number of investors believe there will still be high demand for modern workspaces in central London.
Henderson Park acquired the 147000 square feet office in 2018 after accountancy giant Deloitte vacated the building. A refurbishment recently completed.
The landlord agreed a pre-let back to Deloitte, and the building forms part of the tenant’s wider London campus.
Nick Weber, founding partner of Henderson Park, said the sale to the consortium led by Wing Tai Properties “underlines the ongoing appeal of prime, well let London offices to international investors and the important role we believe they will continue play in the daily working life of the future”.
CBRE and Eastdil Secured advised on the disposal.
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