British Land has gone under offer to buy the headquarters of electronic payment firm Visa in Paddington, W2.
Deutsche Bank on behalf of Malaysia’s Employees Provident Fund put up the 195,000 sq ft block at 1 Sheldon Square in January.
British Land is understood to be paying around £200m – the first time a Paddington deal has been signed at less than a 5% yield.
EPF bought the block for £150m in 2010. The building is let to Visa for eight years.
Savills acted for the vendor; JLL acted for British Land.
