21 Lombard Street in London will soon have a new owner.
It is reported that Hyundai Fire & Marine Insurance will purchase the London EC3 property.
The sale price of the London HQ of UBS Global Asset Management is in the region of £125m.
This would reflect a net initial yield of 4.91%.
21 Lombard Street is a 15,955 sq ft office property with leasing rates of £56.05 sq ft.
SHyundai Fire & Marine Insurance is Korea’s largest writer of marine, fire, auto-mobile insurance and the second-largest private marine, fire, auto-mobile insurer.
Knight Frank acted for Knight Frank Investment Management.
DTZ represented the private vendor.