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Almacantar lists £875M London office portfolio for sale

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Almacantar lists £875M London office portfolio for sale

Real estate developer Almacantar Ltd. placed its 570,000-square-foot office portfolio at Southbank Place in London on the market for roughly £875 million, Property Week reported.

According to its website, the One and Two Southbank Place properties are fully leased to oil and gas company Shell and flexible workspace provider WeWork Cos. Inc., respectively. The assets form the commercial part of Canary Wharf Group PLC and Qatari Diar's 1.5 million-square-foot mixed-use development at Southbank Place.

Almacantar forward-purchased the assets in 2015 and completed work on the two buildings in 2018, Property Week reported May 24.

Cushman & Wakefield is advising Almacantar on the disposal.