Deka buys £200m Goldman Sachs City HQ

Prudential has sold Christchurch Court, the headquarters of Goldman Sachs, to the German open-ended fund, Deka, for nearly £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 £40s, meaning that the sale price reflects a yield of around 6.5%.

A source close to Prudential commented: “The Pru decided to cash in on the German appetite for well-let buildings on long leases.” Deka is also set to buy Prudential’s Atlantic House at 45-50 Holborn Viaduct, EC1, for over £110m. The 244,000 sq ft office building is currently let to Lovells.

CB Richard Ellis and FPDSavills are advising Deka.