INDUSTRY NEWS

Westbrook set to sell huge West End London office building for £610m

In what would be one of the largest West End London office deals ever, Westbrook Partners is rumoured to be very close to selling a prominent office block for more than £610m.

A wealthy German investor, the Conley family, have used their Sirosa investment vehicle to push through a deal for the art deco Shell Mex House at 80 Strand.

The same family were also responsible for purchasing the Kensington Roof Gardens as part of a humongous £225m deal for the Art Deco themed London office block on 99 Kensington High Street.

The property offers 550,000 sq ft of London office space and currently includes a number of tenants including Shell, Vodafone, Pearson and Omnicom.

Westbrook initially purchased the office block from Robert and Vincent Tchenguiz, Dadvid and Simon Reuben and Jack Dellal in a £494m deal back in 2007. The sale now reflects a 5.15% yield for the firm.

Westbrook Partners is a privately owned real estate investment management company with a number of offices across the globe, including a number in the US, a London office, one in Paris and also one in Tokyo.

The team at Westbrook have been responsible for $10bn worth of equity investment in $40bn worth of real estate transactions.

At present, none of the parties said to be involved in the deal have chosen to comment.

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