Grosvenor sells 20 Grosvenor Street

Grosvenor Britain & Ireland (Grosvenor) has sold 20 Grosvenor Street on a 125 year lease for £96m to a client of the Shaftesbury Asset Management Group.

13th June 2016

 

20 Grosvenor Street is a newly redeveloped office and retail building in Mayfair, London and was let to KPMG in 2014 on a 15-year lease. In addition to 39,681 sq ft of office space, the building includes two retail units, comprising The Refinery barber and spa as well as a café.

Grosvenor intends to recycle sale proceeds back into its long term £1bn London estate development pipeline.

The redevelopment of 20 Grosvenor Street completed last year and was designed by award-winning architects Flanagan Lawrence. It amalgamated numbers 18 and 20 Grosvenor Street, originally built in 1725, to create grade A office accommodation over six floors, together with two retail units on ground and lower ground level. Grosvenor will retain the building’s freehold as part of its 300 acre London estate in Mayfair and Belgravia.

Craig McWilliam, Executive Director, London estate at Grosvenor Britain & Ireland said: “The proceeds from 20 Grosvenor Street will help us continue to invest in our London estate, ensuring it both thrives and flourishes as a place to live, work and visit in the heart of London’s West End.”

The Shaftesbury Asset Management Group is an independent fund and asset management group headquartered in Luxembourg (including a regulated AIFM affiliate) and has platforms in Germany, France, Spain and Switzerland. The Group’s total assets under management currently exceed £1.2bn, on behalf of both institutional and private clients. It is at present seeking to acquire further real estate investments to a value in excess of a £800m in Spain, Portugal, France, Switzerland, Germany and the UK.

Knight Frank advised Grosvenor.

ENDS

For more information contact:
Naomi Curtis, Press Office
Grosvenor
020 7312 6479
pressoffice@grosvenor.com

Notes to Editors

Grosvenor Britain & Ireland

Grosvenor Britain & Ireland creates and manages high-quality neighbourhoods across the UK and Ireland. The company’s diverse property development, management and investment portfolio includes Grosvenor’s London estate, comprising 300 acres of Mayfair and Belgravia, in which it has a £1bn planned investment programme. Other developments include Oxford, Cambridge, Edinburgh, Southampton and elsewhere in London. As at 31 December 2015, Grosvenor Britain & Ireland had £5.7bn of assets under management.

Grosvenor Britain & Ireland is part of Grosvenor Group, a privately owned property group active in some of the world’s most dynamic cities.

www.grosvenor.com

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