Delancey has confirmed reports that it is open to offers for The Walbrook Building in the City of London.
No prospective buyers have been named at present, with Delancey saying only that they are involved in talks with ‘a select group of global investors that may or may not lead to a sale.’ It is believed that offers of around £500 million are being sought.
The Walbrook Building is located directly opposite Canon Street station, and provides 410,000 sq ft of high quality office accommodation along with 35,000 sq ft of retail and leisure space. It has been part of Delancey’s property portfolio since the acquisition of its owner Minerva in 2011.
On its completion in 2010 The Walbrook Building, designed by Foster + Partners, became one of the largest office buildings in The City but failed to find its first tenant until 2013.
Today, thanks to vastly improved occupier demand, the property is almost fully let. Current tenants include US fund manager Vanguard and gym chain Virgin Active.
Knight Frank and CBRE are advising on the sale.
