Wren Capital Partners is set to buy 140 Leadenhall, an office in the shadow of The Leadenhall Building 'Cheesegrater' tower in the City of London, for around £29 million, CoStar News understands.
Aviva, advised by Knight Frank, is understood to have gone under offer to sell the 45,389-square-foot building to Wren. The price of £29 million is just beneath the guide.
The office is leased to two office tenants and one retail tenant providing a passing rent of £1,666,696 a year, reflecting an overall rent of £36.72 per square foot and providing a weighted average unexpired lease term of four years.
The building has a Grade II-listed facade, designed by architect Sir Edwin Lutyens.
Wren invests across all major real estate sectors in the UK on behalf of a variety of capital sources including institutions and ultra-high-net-worth individuals. The partners of Wren have invested in excess of £9.3 billion in real estate across equity and debt.
Knight Frank declined to comment except to say the building was under offer. Aviva did not comment. Wren said: "We remain very interested in the London market right now, but we’re not in a position to comment on specific investments."