INDUSTRY NEWS

One of London’s largest office buildings put on the market

Irish property investment company, D2 Private, has announced that it has put London office space at the Woolgate Exchange building on the market.

Largely considered by many as one of the capital’s biggest office blocks and something of a landmark within the city, the Woolgate Exchange building was originally purchased back in 2006 for £325 million – a deal worth around €468 million then – from the German investment bank, Bankhaus Woelbern.

The building has 32,632 sq metres of office space spread out over three basement levels, a ground floor and eight further upper floors.

D2 Private look set to make a considerable loss on the property, having put it onto the market with an asking price of around £290 million (€330 million).

An award-winning building in the past, the Woolgate Exchange building has a rent rate of £16.7 million per annum – which equates to a rental rate of around £510 per sq metre.

News bought to you from DeVono Cresa, the award-winning commercial property advisers, specialising in Central London office, retail and leisure space.

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