At Pinners Hall in Old Broad Street (pictured, right), the fund paid £57.25m for the 10,080 sq m (108,500 sq ft) office, developed in 1993. The deal with Merchant Navy Officers' Pension Fund represented a 5.2% yield.
Meanwhile, III has bought 12 Moorgate from Abbey National for £21.15m. The 3,153 sq m (33,941 sq ft) office was redeveloped last year and the deal represents a 6.67% yield.
Also in the City, Tishman Speyer has bought City Gate House in Finsbury Square from CIN LaSalle for £50m. It is planning to redevelop the block. Jones Lang Wootton acted for Tishman; DTZ Debenham Thorpe acted for CIN.