Mon, 31 Oct 2011 | BUSINESS SALE
One of London's biggest office blocks, the Woolgate Exchange, has been put up for sale by Irish property investment firm, D2 Private.
The Dublin-based firm is marketing the commercial property - which is located at 25 Basinghall Street in the City of London - for £290 million.
D2 Private acquired the award-winning office block, which is set on a 1.67 acre plot adjoining the Guildhall, for £325 million back in 2006.
The Woolgate Exchange is currently let to German bank WestLB AG on a full lease of £16.7 million per annum, which expires on Christmas Eve 2020.
D2 Private's owners, financier Deirdre Foley, chairman of quantity surveyors Bruce Shaw Brendan O’Mara and developer David Arnold, have appointed Jones Lang LaSalle and Knight Frank to find a buyer for the premises.
According to the selling agents, the high-rise office block comprises one of the "largest freehold headquarter buildings in such close proximity to the Bank of England to be offered for sale this cycle."
The Sunday Business Post reported that the building boasts 32,632 square metres of space over eight upper floors, a ground floor and three basement levels.
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