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Global investor Hines<\/a> has agreed a deal to buy the Worship Square office building in the City of London\u00a0for \u00a3185M in one of the largest London office deals this year.\u00a0<\/p>\n Hines will\u00a0buy the 140K SF building from\u00a0HB Reavis<\/a>, Green Street News reported<\/a>.<\/p>\n It will be the company\u2019s first London office deal in two years.\u00a0<\/p>\n The deal represents a yield of 5.9%, Green Street said. The building\u00a0was completed in July last year and is fully let\u00a0to tenants, including fintech firm Wise, which occupies 80K SF, and consultancy Frontier Economics.\u00a0<\/p>\n The deal is\u00a0another step in the slow but steady improvement<\/a>\u00a0in the London office investment market as buyers purchase new assets that have the potential for rental growth.\u00a0<\/p>\n A joint venture between Australian pension fund Aware Super<\/a> and Delancey<\/a> has bought a trio of London offices for more than \u00a3450M in the past six months. And Ares<\/a> has been buying West End offices for its value-add funds \u2014 the district is traditionally the preserve of buyers with a lower cost of capital.\u00a0<\/p>\n Worship Square, which is next to the Broadgate<\/a> campus, has a \u00a3106M green loan from HSBC<\/a> secured against it and is fully electric, with an EPC rating of A.\u00a0<\/p>\n HB Reavis will recycle the proceeds from the sale into its development pipeline, Green Street said.\u00a0<\/p>\n