UK - The pension fund of the British Broadcasting Corporation (BBC) has confirmed that it has been offered £30m (€34m) for its office building in London.

If the pension scheme were to sell Mutual House in Regent Street in the West End of London, it would reflect a yield of 5.5%.

A BBC spokesperson said the offer was seen as attractive in the current market and if the sale went through the capital released would be re-invested in the UK.

The BBC pension fund has a direct UK portfolio with 64 properties and a market value of £394.8m, managed by CB Richard Ellis.

The pension scheme also invests indirectly in the UK and continental Europe through fund managers CBRE Investors, and invests in US real estate through Grosvenor Americas.