U.S. giant Hines is selling one of Amazon’s two major London offices for £311M, CoStar reports.
Hines has appointed Cushman & Wakefield and Knight Frank to market 60 Holborn Viaduct in Midtown at a price that would represent a 4% yield.
The 264K SF building was Amazon’s London HQ until it expanded into 515K SF at Principal Place on the northern edge of the City last year. It could well need to expand again given it announced it would be recruiting 2,500 more U.K. staff, with the jobs split between London, Cambridge and Edinburgh.
Amazon has a 10.5-year lease and pays around £55/SF, CoStar said. Hines bought the building in 2014 from developer AXA for £245M in a joint venture with German fund VGV Verwaltungsgesellschaft für Versorgungswerke.
Hines Puts Amazon’s Former London HQ On The Market For £300M
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Related Topics:
Amazon
, AXA Investment Managers - Real Assets
, Hines
, London office investment
, Midtown London
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