Dubai company on verge of buying City of London office

摘要

Dubai-based property group Al Gurg is on the cusp of buying a City of London office building, continuing its spending spree in the capital as the collapse of oil prices sees Middle Eastern investors look to increase their overseas exposure. Through LaSalle Investment Management, the firm is thought to be under offer to buy 1 Threadneedle Street in an off-market deal believed to be valued at close to £100m, reflecting a yield of around 3%. Acting on behalf of a private Asian client, Deutsche Bank had not been openly marketing the 48,800 sq ft building, which sits in the heart of the City near the Bank of England, but the punchy yield offered by Al Gurg and LaSalle proved too enticing.