West End offices at Sedley Place have been placed under offer.
According to Property Week, the London office and retail block at 361 Oxford Street could be secured by the Scottish Widows Investment Partnership (SWIP) for just under £80 million.
This represents a yield of approximately five per cent for the 48,000 sq ft of space. The resource stated that Boots was considering buying the freehold on the property - which it lets and has its headquarters above - but the retailer changed its mind.
At present, the City of London owns the freehold. A special-purpose vehicle owns the building but Property Week said talks are underway as to whether SWIP purchases this, or just the lease.
Meanwhile, the publication announced last month that Amancio Ortega, the former chairman and co-owner of Inditex - which owns Zara - bought 215-210 Oxford Street for £55.1 million and now plans to purchase Jubilee House, which is next door.
Posted by David Hudek
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