Brookfield completes £480m sale of One London Wall Place

Brookfield Properties has completed the £480m sale of One London Wall Place, EC2, to AGC Equity Partners. The sale price for the leasehold of the 310,000 sq ft building, which is leased to Schroders, reflects a 3.8% yield. Brookfield decided to sell the building after buying Oxford Properties’ 50% leasehold stake in it last year. One London Wall Place formed part of the pair’s £700m joint venture development of One and Two London Wall Place, which completed in 2017 Brookfield is to retain Two London Wall Place, and will continue to manage and operate the acre of public realm around both buildings. The City of London Corporation owns the freehold of the site. To send feedback, e-mail louise.dransfield@egi.co.uk or tweet @DransfieldL or @estatesgazette