Deka Buys Goldman Sachs UK HQ for Pounds 200 Million

November 12, 2003 - Holland Real Estate

Prudential has sold Christchurch Court, the headquarters of Goldman Sachs, to the German open-ended fund, Deka, for nearly Pounds 200m. The 300,000 sq ft building, on 15 Newgate Street EC4, is let to Goldman Sachs for a further 17 years. The US investment bank is paying a rent in the high Pounds 40s, meaning that the sale price reflects a yield of around 6.5%. A source close to Prudential commented: "The Pru decided to cash in on the German appetite for well-let buildings on long leases." Deka is also set to buy Prudential's Atlantic House at 45-50 Holborn Viaduct, EC1, for over Pounds 110m. The 244,000 sq ft office building is currently let to Lovells. CB Richard Ellis and FPDSavills are advising Deka. Sphere: Related Content