Lendlease and its investment partners including NSW Treasury Corporation (TCorp) will buy an £809 million ($1.38 billion) blue-chip office building in the City of London that upon completion next year will be fully occupied by Deutsche Bank on a 25-year lease.

A Lendlease-managed investment vehicle acquired the 568,500-square-foot (52,815sq m) office tower above Moorgate Station from developer Landsec on an implied yield of 4.6 per cent, based on its £38 million annualised net rent.