Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LONDON-Japanese bank Nomura is looking to sell and leaseback its London headquarters in a bid to take the 300,000 sq ft building off the balance sheet.

The company is considering leases of between 15 and 30 years and industry insiders estimate that with such a deal Nomura would have to pay £13.5 million ($20.5 million) a year in rent.

The building, reconstructed behind its original stone façade by joint developers Kumagai Gumi and Glengate, was bought by Nomura in 1986 for £125 million ($190.7 million). The London block is the only office outside Japan that Nomura owns.

The move by Nomura reflects a growth in the amount of investment stock in the City and the West End starting to come onto the market. In the City NPI’s long leasehold on the 13,010 sq m Stonecutter Court on Stonecutter Street is available for around £79 million ($120.5 million).

Meanwhile in the West End the Ministry of Defence is looking to sell its 13,060 sq ft Northumberland House, WC2, which along with the neighbouring Metropole Building and two smaller properties, is being vacated and sold as part of a property reorganisation.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.