Evans Randall sells Allianz office

Investment bank Evans Randall has sold 60 Gracechurch Street, home of insurance firm Allianz, to German investor KGAL after owning it for just over three years. The companies have not disclosed the sale price, but it is thought to be around £116m. Allianz, which moved into the building in 2009 when Commerzbank moved its investment banking arm out to 30 Gresham Street, has a fresh 15-year lease in the newly-renamed Allianz House. Evans got a yield of 5.35 per cent on the sale.