Deutsche Bank’s City headquarters has been sold to a Malaysian construction firm in one of the biggest property deals of the year.
Gamuda partnered with UK private equity firm Castleforge to purchase Winchester House, just opposite Liverpool Street station, for £257mln.
The lease on the German bank’s UK headquarters is set to expire in April 2024, with the lender set to move to a new location in Moorgate.
The new premise was sold last year for £809mln, a discount to its initial valuation, according to Bloomberg.
The buyers intend to refurbish the premises into offices for global financial institutions, legal firms and tech corporations.