LandSec seeks buyer for London prime office asset

UK commercial property developer LandSec has put a prime office building at 123 Victoria Street, in London on the market.

123 Victoria Street 

Informed sources told Bloomberg that the asking price is approximately £250 mln (€290 mln) and Colliers International Group has been appointed to handle the sale. Landsec declined to comment.
123 Victoria Street is a mixed-use property in central Victoria offering both office and retail spaces, conveniently located near various transportation options.
A comprehensive refurbishment completed in 2012 involved community input and revitalized the original 1977 building. The renovation enhanced its street presence with a brighter façade and a new roof, allowing the building's architecture to stand out. Terraces on some floors offer city views and ground-floor shops provide retail opportunities.
The 23,821 m2 building holds a BREEAM 'Very Good' rating. It uses 100% renewable electricity and diverts 100% of waste from landfill. To promote sustainable commuting, 123 Victoria Street provides over 25 bike racks and a cycle repair station.
Jimmy Choo and British International Investment are current tenants of the building.
The sale is part of LandSec’s strategic shift to sell £2 bn (€2.3 bn) in office assets and invest in retail and housing. 
LandSec is also reportedly in discussions to sell Red Lion Court, another prime London commercial development, to Cheyne Capital Management and developer Stanhope. Landsec acquired the former office complex in Southwark and had planned a 21,368 m2 development featuring office space, retail areas, and new public space. The project received planning permission in spring 2023 and was initially scheduled for completion in 2027.