Goldman Sachs and Greycoat JV complete Procession House purchase from L&G

Goldman Sachs Procession House

LGIM Real Assets has confirmed the sale of the prime London office scheme Procession House to a JV between Goldman Sachs and Greycoat for a price believed to be in the region of £70m.

In June, Property Week revealed that the JV were under offer to buy the 105,944 sq ft office and retail site, which occupies a prominent island at Ludgate Circus within the City of London.

On behalf of its Managed Property Fund, L&G put the office on the market in February via Savills with a £67.5m guide price, reflecting a net initial yield of 6.15%.

This is premium content

You must be logged in to view premium stories.

Gated access promo

Subscribe for full access

Take out a print and online or online only subscription and you will get immediate access to:

  • Breaking industry news as it happens
  • Expert analysis and comment from industry leaders
  • Unlimited access to all stories, including premium content
  • Full access to all our online archive

To get access to premium content subscribe today

Alternatively REGISTER for a free trial to access up to 4 articles and sign up for email alerts

If you are already a registered user or a subscriber you can SIGN IN now