Commerz Real have instructed Savills to sell its 10 Aldermanbury building in the City of London.
The German fund managing firm are marketing the site for £260 million, representing a 5.5% yield. The building was originally developed by Legal & General and Stanhope, and is let to JP Morgan until 2025. (more…)
US investment bank JP Morgan is considering leaving their European headquarters in Canary Wharf in favour of other premises in the City of London area.
This will be a harsh blow for Canary Wharf’s hopes to be the main financial district of London. JP Morgan are currently reviewing plans for its headquarters and the consolidation of all staff and buildings into one development, which may be in City rather than Canary Wharf. (more…)