IRISH private equity group Warren Private Clients is in exclusive talks with Hong Kong property company Chinese Estates to sell part of Goldman Sachs' headquarters in London for about €360m (£300m), according to Property Week.
The investors, who are said to include beef baron Larry Goodman, were assembled by WPC in 2001 with banking said to have been provided by Barclays, meaning the asset is not in Nama. The building was bought by WPC for £250m. Green Property's 44% stake was bought by other Irish investors for £111m in 2003.
The sale of the River Court premises is an all-equity deal, Property Week reported, and the yield on the investment is 5.25%. The investment bank, whose boss Lloyd Blankfein said banks are doing "God's work", has a lease on the building until 2025. River Court was previously the Daily Express office.
Warren Private Clients was founded by accountant and wealth adviser Kevin Warren and was owned by him, lawyer Enda Connolly and financier John Horgan. Horgan and Connolly have since left the company. At the peak of the market it had assets worth €2.3bn.
Clients own buildings in the IFSC, a 50% stake in Whitewater shopping centre and properties on the east coast of the US including a Tiffany shop in Greenwich, Connecticut, where Seán Dunne has taken up residence. It was Dunne who sold the stake in Whitewater to WPC, which led to a court case between the sides.
It is also involved in a joint venture to develop lands at Newbridge with Bennett Construction, at Sandyford with P Elliott & Co and at Clonee with Kilsaran Concrete and Bennett.