The Standard Life Pooled Property Pension Fund has announced the sale of its long leasehold interest in 60 Gresham Street in the City of London for £70.75m.
The 60,916 sq ft building, which is being acquired by Bank of China, is multi-let to a broad range of occupiers including 4Most Europe, a credit risk consultancy; Trium Capital, an investment manager; i2 Office, a serviced office operator and the Anthologist bar and restaurant.
Since purchasing the building in 2012 for £47.25m, the fund has undertaken a number of asset management initiatives, including refurbishment and re-letting of the fourth and fifth floors.
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