German open-ended fund manager Commerz Real has put its 10 Aldermanbury office building in the City of London on the market with a price tag of £260 mln (EUR 300 mln), market sources told PropertyEU. The asking price is said to reflect a yield of 5.5%.

German open-ended fund manager Commerz Real has put its 10 Aldermanbury office building in the City of London on the market with a price tag of £260 mln (EUR 300 mln), market sources told PropertyEU. The asking price is said to reflect a yield of 5.5%.

10 Aldermanbury is the third office property occupied by JP Morgan which has come on the market in the past weeks. At the end of March, CB Richard Ellis and Knight Frank started marketing Alban Gate and 60 Victoria Enbankment offices. Alban Gate is believed to be on the market for £275 mln or a yield of 6.15%.

JP Morgan announced plans in late 2008 to relocate from the City of London to a new tower at Canary Wharf.

Alban Gate and Victoria Embankment are part of the £1.15 bn White Tower 2006-3 commercial mortgage-backed securities (CMBS) vehicle, which is being sold by administrators CB Richard Ellis Loan Servicing after the properties went into receivership last year. The portfolio was previously held by property tycoon Simon Halabi.