Derwent London is bringing to market 90 Whitfield Street, a trophy office in London's West End, seeking around £120 million, CoStar News understands.
Market sources said the listed London developer and investor has appointed Knight Frank and RX London to market the 103,100-square-foot building which was designed by EPR and completed in 2007. That price would equate to a circa 5.5% net initial yield.
The building includes 95,000 square feet of offices and six shops close to Tottenham Court Road.
Tenants at the multilet building include EDF Energy and HOK.
The sale would be part of Derwent London's normal recycling of capital from completed developments into its future development pipeline.
Last month it exchanged contracts to sell its 70,300-square-foot freehold interest in Turnmill, its London Clerkenwell offices, for £77.35 million, a 4.9% yield, to UK investment manager Titan Investors.
It is also marketing two smaller London assets - 10-14 Pentonville Road, and Asta House, also on Whitfield Street, which is being sold via Tuatara seeking £8.8 million or a 7% net initial yield.
Announcing the Turnmill sale recently, Paul Williams, chief executive of Derwent, said that the proceeds will be recycled into "our two exciting on-site net zero carbon West End developments, 25 Baker Street W1 and Network W1, which together total 437,000 square feet, while enhancing our financial capacity as opportunities are beginning to emerge".
Derwent London declined to comment.