Some £900 million of high profile London office buildings are up for sale, after owner Simon Halabi defaulted on debt.
The eight properties include the Aviva Tower, Millennium Bridge House, 60 Victoria Embankment and the Alban Gate site of JP Morgan. Marketing of the portfolio will be undertaken by Knight Frank and CB Richard Ellis.
Mr Halabi is believed to struggled after a decline in the value of the properties from £1.8bn in 2006 to £929m as of June last year.
This prompted the bonds entrepreneur to breach loan to value regulations relating to the £1.15 million of bonds against which the portfolio was secured.
The bondholders were them prompted to call in their debt, with the most senior categories of noteholders set to be repaid in full once the sales have gone through.
CBRELS, the parent company of CBRE, said: “Noteholders should be aware that this quoting price is intended only as a guide to the level of offers that may be taken seriously in the sales process and should not be taken to represent the expected sale price.”