Talks are underway regarding the sale of the Drapers Garden building in the City of London, reports suggest.
Evans Randall acquired the City offices
for £242.5 million in 2010 and is now discussing the possibility of selling up for £285 million with American real estate investment trust Boston Properties, CoStar News says.
There were believed to be two other buyers - St Martins Corporation and pension fund Samsung - looking to purchase the building last year, but nothing came of their reported interest.
Rental uplifts at five-year intervals agreed by tenant Blackrock are believed to be reflected in the potential £285 million price of Drapers Garden.
Located on Throgmorton Avenue, the building has 292,418 sq ft of floor space and a lease expiry date of February 2035.
Evans Randall also has office investments
elsewhere in the City - including the Gherkin, 33 Old Broad Street and Riverbank House - and in Canary Wharf and the Thames Valley.
Posted by David Hudek
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