25 GRESHAM STREET, EC2
Quote Price - £142 Million / NIY - 4.24% / £1,189 per sq ft
Achieved Price - Confidential, however the sale achieved in excess of 10% above the quote price
119,823 sq ft
Hengli Investments Group
Lloyds Banking Group
CBRE successfully advised Lloyds Banking Group on the 20-year sale and leaseback of their headquarters building on Gresham Street. CBRE’s Central London Investment Properties team executed the transaction with specialist lease consultancy advice provided by the Central London Advisory and Transactions team.
After a comprehensive due diligence and transaction structuring phase, the property was marketed internationally generating strong interest from a variety of global investors and a highly competitive bidding situation. The purchaser is a new entrant from Hong Kong and the price paid exceeded the original quoting price.
CBRE’s collaborative approach; solved transactional complexities, maximised price and ensured the sale & leaseback closed promptly, resulting in Lloyds Banking Group exceeding their objectives on this transaction.