'Talks underway' for purchase of City offices at 100 Cheapside
A deal could soon be struck between three organisations for the purchase and development of the City offices at 100 Cheapside.

Talks are currently underway between Quadrant Estates, CarVal Investors and Orion Capital Managers regarding the premises, where technology giant Apple could open a store, CoStar News reported.

Market sources have suggested a sale for around £25 million could take the London offices off the hands of the City of London Corporation.

The local authority previously overruled concerns about how large the development would be back in September.

Some opposition parties suggested the new central London offices would block their right to light, but the local authority decided the development was of too great economic importance to be halted.

Approximately 87,000 sq ft of space will be delivered once the project is completed. 

CoStar News also recently revealed that discussions are underway between the Canada Pension Plan Investment Board and Land Securities over a joint deal.

The two organisations could form an equal joint venture for the development of Victoria Circle, SW1, the Land Securities mixed-use scheme that will deliver one million sq ft of space.

This will include retail and residential units and more than 200,000 sq ft of new London offices.

Posted by John Evans

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