Sale of Woolgate Exchange

Cathay Life, one of Taiwan’s largest insurance firms, has purchased Woolgate Exchange in the City of London for £320m, reflecting a net initial yield of just over 5.1%.

TPG Capital and Ivanhoé Cambridge appointed Eastdil in May to sell the 340,000 sq ft Woolgate Exchange less than 18 months after buying the prime City trophy, and repaying MetLife’s senior debt.