Cursitor Building
29/11/2017 by Buildington
Aberdeen Asset Management and Endurance Land have instructed Knight Frank to sell the Cursitor Building after completing a deal to lease the majority of the development to WeWork.

Offers in excess of £90m are expected. The price reflects a net initial yield of 4.5%.

WeWork has leased the first to fifth floors at the 65,638 sq ft office block. The serviced office provider has taken a total of 49,212 sq ft on a 20-year lease at an overall rent of £63.50 per sq ft.

The building is now fully let to five tenants within six months of practical completion. It has a passing rent of £4.3m per annum, reflecting £58.64 per sq ft overall.

Read more: Endurance Land
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