Goodwin Procter acted for SEB Asset Management in their sale of One Threadneedle Street, London EC2, to a client of Deutsche Bank for GBP 63 million (which represents a net initial yield for the buyer of 4.5%). The sale was completed on December 21, 2012.
The buyer was advised by Jones Lang LaSalle. The whole of the property is let to Nationwide Building Society.
“This deal represents our first major real estate transaction since the establishment of Goodwin Procter’s transactional capability within our London office in October of last year,” said Joe Conder, a London-based partner in the firm’s Real Estate Capital Markets Practice. “This shows that, while still a young office, the depth and breadth of our team’s experience and reputation in the top end of the prime real estate market is a compelling offering in this space.”