Derwent sells Angel Square to Tishman for £86.5m

Derwent London has sold Angel Square in Islington, EC1, to Tishman Speyer for £86.5m. The 126,200 sq ft property comprises three connected buildings, currently let to Expedia and The Office Group. The property will become vacant following the sale, allowing Tishman to undertake a “significant refurbishment”. Derwent boss Paul Williams said: “This disposal reflects the strength of investment demand for central London office properties.” He added that the proceeds will be reinvested into its development pipeline, including 19-35 Baker Street, W1, and the now consented Network Building, W1, which together total more than 400,000 sq ft. Tishman’s head of Europe, Bernard Pernaud, said the acquisition would “open a new phase of investment for us in the London market”. View other recent deals in EC1 >> To send feedback, e-mail piers.wehner@eg.co.uk or tweet @EGPropertyNews