Evans Randall has put 5 Canada Square in Canary Wharf, E14, up for sale for around £380m.
The Mayfair-based private investment bank bought the building from Royal Bank of Scotland in 2007, paying £355m – a 4.4% yield.
The 14-storey 515,000 sq ft trophy, built in 2002, is let to Credit Suisse International on a 25-year lease ending in October 2027, with 10 floors sublet to Bank of America.
The annual rent is £20.125m.
Evans Randall confirmed in March that it had sold a 5% stake in 5 Canada Square to Amundi Real Estate, the merged real estate arms of Crédit Agricole and Société Générale.
The building is Evans Randall’s largest London asset alongside the iconic Gherkin at 30 St Mary Axe, EC3, which it bought with IVG in 2006 for £630m.
The instruction to sell Canada Square comes just weeks after it emerged that IVG and a consortium of lenders were in talks to search for new equity investors for the 41-storey tower to stave off a complex loan default.
The shortfall is understood to have been the result of a drop in the building’s value, which had fallen by £100m to £531m, according to a March valuation.
CBRE is advising on the Docklands sale.
All parties declined to comment.
