Times Place, 45 Pall Mall, London W1

In 2005 we advised Deka on their first speculative funding in the UK at what was the low point in the West End market cycle. The transaction was based on cost of about £45 million with a funding yield of 6%. The property is located in St James's, one of the World's premier office locations. It was completed in June 1997 and provides about 5,580 sq m (60,070 sq ft) of Grade A office accommodation. The building's location and quality attracted high profile occupiers including Doughty Hanson, British Vita and Guiness Peat. We advised Deka on their disposal in May 2006 at £85 million which represented an exit yield of circa 3.45%.