City office primed for £700m sale

The City of London trophy office building Plantation Place is being primed for sale at an asking price of £700m.

Delancey, on behalf of the trustees of the Moise Safra estate, is in talks to sell the 550,000 sq ft building at a yield of 4%.

A spokesman for Delancey said: “We can confirm that there are a limited number of ongoing discussions regarding the potential sale of Plantation Place. We are unable to comment further at this time.”

Safra bought the property, on Fenchurch Street, for around £470m in 2012.

Knight Frank and CBRE are advising Delancey.

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