South Korea’s sovereign wealth fund, KIC, and US investor Hines have appointed an agent to sell London’s One Bartholomew Lane, EC2, for around £104m.
The joint venture partners have instructed CBRE to sell the freehold of the 10-storey, 76,418 sq ft City building. The sale is expected to generate a net initial yield of just over 4% and capital value of £1,303/sq ft.
Other tenants include investment bank and stockbroker N+1 Singer and the Agricultural Bank of China.
The US investor first acquired One Bartholomew Lane for around £70m in 2012 on behalf of KIC.
EG reported in August that Hines was preparing to sell the building.
Hines is also in the process of selling Sixty London in Holborn, EC1, to Norges Investment Bank for around £330m.
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