Facebook’s Covent Garden headquarters is close to being sold for £60m-£65m.
PropertyWeek.com understands that Spanish firm, Allegra European Holdings is under offer on the Seven Dials Warehouse, which is home to Facebook’s main London office and retailers including Urban Outfitters and Belgo.
Its Irish owner, Davy Draco Property Partners, instructed agents to seek buyers for the 61,500 sq ft block in May. The guide price is £65m – a 5.23% yield. It bought the Seven Dials Warehouse for £60m – a 5.6% yield – in 2008 from Schroder Property Investment.
The block provides a total rent of around £3.6m. The deal would mark a second foray into London property for Allegra, which bought the 82,000 sq ft 5 King William Street from Resolution AM and Morley for £44.5m at a net initial yield of 7.43% in June 2008.
Aguirre Newman and Colliers are thought to be advising Allegra on the deal. John Miles and Savills advise Draco. All parties declined to comment.