Mitsubishi Estate London is in talks to sell the refurbished Warwick Court office at Paternoster Square in the City to Japanese investor Daibiru, part of Mitsui UK, for around £300 million.
Savills has been advising on sale of the 210,000-square-foot office, which is yards from St Paul's Cathedral.
Mitsubishi and development partner Stanhope began a comprehensive refurbishment of the former Goldman Sachs building in the first quarter of 2021. The work, which completed in July 2022, involved the reconfiguration of the ground floor entrance from Paternoster Square, as well as the installation of new plant incorporating touch-free services. Common amenity spaces have been incorporated, including a number of individual terraces and a communal roof terrace with views of St Paul's. The BREEAM Excellent scheme incorporated the retention and reuse of existing finishes.
In 2021, Baltimore-based fund manager T Rowe Price committed to 143,000 square feet at the scheme, relocating its London base. Commodity trading group Mitsui Bussan Commodities signed for 25,300 square feet in 2022.
Daibiru, a group company of Mitsui OSK Lines, completed its first acquisition in the UK in June, buying a 100% stake in Capital House, 85 King William Street. It paid £169 million for the 121,489-square-foot office and retail building. The building is to be the new European and African headquarters of the MOL Group. Savills advised Daibiru on that acquisition.
Savills declined to comment.