Private equity firm Brookfield has agreed to buy the Canary Wharf headquarters of investment giant State Street for a knockdown price, just as fresh working-from-home guidance empties City office towers.
Private equity firm Brookfield has agreed to buy the Canary Wharf headquarters of investment giant State Street for a knockdown price, just as fresh working-from-home guidance empties City office towers.
The Canadian giant is understood to have struck a deal with M&G, the building’s owner, to buy the office block for about £250 million, giving a yield of almost 6 per cent.
The government’s edict that workers must work from home “if they can” to help cope with the Omicron variant has cast a fresh cloud over the office market.
The early signs are that many companies are reluctant to go back to remote working. Employers including PwC, Citi and Goldman Sachs are leaving it up to staff to choose whether it is appropriate for
News Source: Thetimes
