The Economist Group's London HQ has just been sold for £132.5m

The London HQ for The Economist Group has been sold to US property investor Tishman Speyer.

According to the Standard, the building on St James’s Street could be vacated by the Economist Group within 18 months.

The sale is part of the magazine giant’s changes announced in August 2015 when Pearson announced it was selling its stake in the Economist Group for £469m to Italian investment group Exor.

The investment group agreed to pay £227.5m for The Economist’s ordinary shares and £59.5m for its B special shares. The Economist Group agreed to buy Pearson’s remaining ordinary shares for £182m.

Tishman also owns the Sainsbury’s headquarters near Chancery Lane Tube station and is planning to snap up more office buildings in the capital.

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