Korea's NPS in the lead for €1.3bn Goldman Sachs UK HQ

Korea’s National Pension Service (NPS) is being tipped as the lead bidder in the race to buy Goldman Sachs Group's new London headquarters, with a price tag of £1.1 bn (€1.3 bn).

NPS has been named alongside two other shortlisted bidders from Asia and Europe, with media reports suggesting that the pensions operator is partnering with LaSalle Investment Management on the deal. 

It is expected that Goldman would lease back the entire 840,000 ft2 (78,000 m2) building, which is located on Farringdon Street. The deal volume represents a net initial yield of around 4.1%.

The Kohn Pedersen Fox Associates-designed property is due for completion at the end of the year with around 9,600 workers moving in during the first few months of 2019. 

Other potential bidders include Pontegadea Inversiones SL, the property company owned by Spanish billionaire and Inditex’s founder Amancio Ortega, and Hong Kong-based CK Asset Holdings.

Goldman instructed CBRE and Eastdil Secured to sell the building earlier this year. 


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