Shell’s 80 Strand office hits market

Shell’s office space at 80 Strand, WC2, known as Shell Mex House,  is on the market. Cushman & Wakefield has been appointed to market 160,000 sq ft of space across floors 1-4 at the 550,000 sq ft building. The oil and gas giant’s lease expires in 2020, after which the owner plans to carry out an extensive refurbishment. The property has some of the largest floorplates in the West End, at an average of 40,000 sq ft. It is owned by the Conley family, which acquired the site via German family investment vehicle Sirosa in 2013 from Westbrook for £610m, reflecting a net initial yield of 4.2%. Other tenants include educational provider Pearson, which is looking to sublease its 250,000 sq ft office, which spans floors 5-10. To send feedback, e-mail anna.ward@egi.co.uk or tweet @annaroxelana or @estatesgazette