Investors in £500m City spending spree

More than £500m of prime trophy assets in London's financial district looked set to sellthis week.

In Docklands, RREEF Real Estate is in talks to buy 15 Westferry Circus, E14, from Vico Capital for around £135m.

Vico appointed US property broker and investment bank Eastdil to sell the block for more than £150m last June. Vico bought the 175,000 sq ft building for £135m in 2005.

RREEF also this week confirmed that it had completed its purchase of Park House on Finsbury Square, EC2, from PRUPIM on behalf of one of its German open-end funds, grundbesitz europa, for £150.2m.

Elsewhere in the City, US ­private equity group Angelo Gordon is thought to have agreed to buy Senator House at 85 Queen Victoria Street, EC4, for close to £70m, reflecting a yield of around 8.5%. Avestus Capital Partners, formerly Quinlan Private, instructed Jones Lang LaSalle in September to sell the 155,000 sq ft building.

Quinlan Private bought the asset for £100m from Resolution Property in 2007.

In EC4, AFIAA, the investment outfit controlled by 20 Swiss pension funds, is buying 21 Tudor Street, EC4, from Lane-bridge for around £75m, while a Russian investor is understood to be buying the former Reuters building at 85 Fleet Street from Pramerica for around £70m.

JLL is advising Lanebridge.

James.buckley@estatesgazette.com]

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