Three landmark office schemes, including the 146-metre high O2 Tower in Munich, have gone up for sale for a combined price of some 鈧�1.3 bn.
Singapore's sovereign wealth fund GIC is believed to have put the O2 Tower in Munich on the market, according to well-informed market sources. GIC, which bought the building in 2007 from Hines for a price of around 鈧�300 mln, is understood to have hired broker JLL to market the asset, which at 146 metres is Bavaria's tallest and most prominent office building. JLL declined to comment on the mandate.
Located opposite the Olympic Stadium on the Georg-Brauchle-Ring, the asset is situated next to the Olympia shopping mall and offers four seven-story campus-style buildings next to the office tower. The 50,700 m2 tower is leased to Telefonica, together with three of the four campus building comprising an area of 25,600 m2.
The scheme is the latest headquarter buildings to come to market. In London, broadcasting giant Sky has instructed agent BNP Paribas Real Estate to sell its headquarters and studios in west London for 拢545 mln (鈧�683 mln). The company, which plans to rent back the building with a 30-year term, will be looking to reinvest the proceeds into core areas of its business.
Also in the UK capital, Korean life insurer Hanwha Life has put the long leasehold interest of 1 Wood Street in the City of London on the market with an indication price of 拢190 mln (鈧�247 mln). Fund manager Aerium, which is acting on behalf of Hanwha Life on the sale, has hired agent CBRE following a competitive pitch process, to market the building. The 17,100 m2 asset is fully let to international law firm Eversheds as its HQ for a further 10 years. Aerium originally acquired the asset for 拢105.5 mln in 2009 from Land Securities. Following a series of asset management initiatives, Aerium then sold the building to Hanwha Life in 2012 for 拢143.5 mln but continued in the role of asset manager.
In April, JLL's Global Capital Markets was mandated Alecta, a Swedish pension manager with 鈧�75 bn of assets under management, to market a global office, retail, multifamily and industrial portfolio for sale
