Danish pension fund Cording Danmerc has brought a Mayfair office block to the market for close to £50m.
Cording Danmerc is selling 2 Park Street, W1, for £48m – a 4.76% yield.
The proposed sale comes just under three years after it acquired the 47,900 sq ft block from Deka Immobilien Investment for £41.9m.
The property is let to Finnish paper manufacturing company Stora Enso off average rents below £60 per sq ft. It is close to Mount Street, which has undergone a recent renaissance.
The block sits in the heart of the West End, where there is currently 2.1m