Aberdeen Asset Management and Endurance Land have instructed agents to sell the Cursitor Building, WC2, after completing a deal to lease the majority of the development to WeWork.
Knight Frank has been appointed to seek offers in excess of £90m for the Midtown freehold. The price reflects a net initial yield of 4.5%.
WeWork has leased the first to fifth floors at the 65,638 sq ft office block in Chancery Lane. The serviced office provider has taken a total of 49,212 sq ft on a 20-year lease at an overall rent of £63.50 per sq ft.
The deal means the building is now fully let to five tenants within six months of practical completion. It has a passing rent of £4.3m per annum, reflecting £58.64 per sq ft overall.