The office space has been vacant since March 2001, when Lloyds Bank exercised a break option, although the basement bar is let to Davy's of London until 2011. The building was originally completed in early 1990's, but is now in need of substantial refurbishment.
The sale will result in a £1 million ($1.6 million) book loss, but Adrian Wyatt, Chief Executive of Quintain, said: "We have taken the decision to sell Chaucer House in light of current market conditions in the City of London and the need for substantial re-investment in order to attract a new tenant into the vacant office space."
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
