Commercial City offices 'on the radars of foreign buyers'
Commercial City offices are proving popular with foreign buyers, such as Tower 42 which is located close to the Bank of England.

Of the £4 billion of such corporate space that arrived on the market after the summer, over half of the properties are close to going under offer, CoStar UK reported.

Tower 42 is currently under offer from a South African investment vehicle led by entrepreneur Nathan Kirsh.

It was put up for sale in September for approximately £290 million, which represents a yield of 6.9 per cent.

Furthermore, the publication revealed that St Martins, a Kuwaiti investor, is presently in discussions to purchase Christchurch Court at 15 Newgate Street for £230 million and 60 Threadneedle Street for over £180 million.

The City is also at the centre of several lettings deals, with Aon securing 191,000 sq ft of London offices at the Leadenhall Building, which is currently under construction, British Land recently revealed.

Posted by Sarah Dudley

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