Financial services group Societe Generale is set to sell its current London headquarters at 41 Tower Hill, EC3, also known as SG House, through international real estate advisor Savills.
The property will be subject to a sale and leaseback from Societe Generale for a term expiring on 31 March 2020, following the relocation of all staff to its new premises at One Bank Street in Canary Wharf in 2019.
SG House was constructed in the late 1980s and comprises 170,401 sq ft (15,831 sq m) of office, retail and ancillary accommodation, arranged over basement, ground and eight upper floors. The 1.7 acre freehold island site includes the adjoining Minories Car Park.
Robert Buchele, director in the City Investment team at Savills, comments: “The sale of SG House is a presigious instruction and one that will appeal to major international investors and developers worldwide. It benefits from unrivalled views over the Tower of London, one of the world’s most recognisable Unesco World Heritage Sites, and will provide an attractive return to an investor ahead of the refurbishment or redevelopment of the site”.