Just days after Tishman Speyer completed the £180M sale of 100 New Oxford St., attention is turning to a second Tishman West End disposal: the 317K SF Verde SW1 office building at Victoria.

A Tishman spokeswoman told Bisnow the Verde sale is imminent.

The Verde SW1 sale will be the West End's largest in four years and the first big test of investor sentiment in the West End since the Brexit vote last year.

Savills investment director Barry Mangan said: “For Tishman this is the end of a well-executed business plan, but it is a big lot size for the West End.”

He said it will close for around £500M.

The disposal of the now-refurbished government offices is a joint venture with PSP Investments. GM Real Estate and Eastdil are advising.

Thor Equities and AEW just bought Tishman's 106K SF block at New Oxford Street with £90M of debt from Bayerische Landesbank. AEW acted for two German institutional clients.

Mangan said the New Oxford Street deal confirmed the strong bias to overseas buyers in the West End market.

“In the first half of the year, 73% of the £4B West End office investment scene was international investment with continued Asian and Hong Kong money to the fore.”

Savills reports prime West End yields are 3.25%.

Tishman instructed Colliers International and JLL as letting agents on Verde in March 2016. Oaktree Capital have the ninth and 10th floors, PA Consulting on two floors, Navigator Gas, Pret a Manger, TSP UK and PSP Investments, with Waitrose occupying retail space on the ground floor. It was disclosed in November 2016 that Mirabaud would take 15K SF, taking the building to 60% let. Around 73K SF is still to let.

Other properties in the Tishman Speyer London portfolio include Sainsbury’s 328K SF HQ at 33 Holburn, The Economist Plaza acquired in 2016 for £130M, and The Point, Paddington, acquired in 2014 for £210M.