Prudential has sold Christchurch Court, the headquarters of Goldman Sachs, to the German open-ended fund, Deka, for nearly ÃÂ£200m.
The 300,000 sq ft building, on 15 Newgate Street EC4, is let to Goldman Sachs for a further 17 years. The US investment bank is paying a rent in the high ÃÂ£40s, meaning that the sale price reflects a yield of around 6.5%.
A source close to Prudential commented: Ã¢â¬ÅThe Pru decided to cash in on the German appetite for well-let buildings on long leases.Ã¢â¬Â Deka is also set to buy PrudentialÃ¢â¬â¢s Atlantic House at 45-50 Holborn Viaduct, EC1, for over ÃÂ£110m. The 244,000 sq ft office building is currently let to Lovells.
CB Richard Ellis and FPDSavills are advising Deka.