Grosvenor sells 69 Grosvenor Street in Mayfair for £35m

Grosvenor Britain & Ireland (Grosvenor) has sold a 125-year leasehold interest in 69 Grosvenor Street to a private investor for £35m.

10th March 2016

Completed last year, 69 Grosvenor Street was transformed by Grosvenor into a 14,500 square feet Grade A office, designed in the style of a ‘boutique townhouse.’

Craig McWilliam, Executive Director, London Estate at Grosvenor Britain & Ireland said: “69 Grosvenor Street has been redeveloped in a way that retains its heritage features while delivering top-quality office space. We will recycle the capital from the sale, reinvesting it back into our London estate and enhancing its long-term appeal as a place to live, work and visit. The redevelopment of 69 Grosvenor Street is an example of Mayfair’s ability to evolve and grow, helping the West End’s global reputation.”

69 Grosvenor Street is located at the eastern end of Grosvenor Street in the heart of London’s West End. The building is in close proximity to a diverse range of corporate head offices and some of London’s best arts, retail and hospitality, including Bond Street and Mount Street. The building backs on to Grosvenor Hill, which in October last year welcomed the world-renowned Gagosian art gallery and has undergone extensive public realm improvements, funded by Grosvenor and delivered by Westminster City Council.

Details of the purchaser are confidential. Grosvenor will retain the freehold of 69 Grosvenor Street as part of its 300 acre London estate in Mayfair and Belgravia. The building is currently unoccupied and aims for a BREEAM environmental rating of ‘Excellent.’

ENDS

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

Notes to Editors

Grosvenor Britain & Ireland

GBI’s mission is to create and recreate inspiring places and neighbourhoods, delivering value for customers, shareholders and co-investors with its place-making expertise.

It owns, develops and manages a diverse property portfolio in cities across Britain and Ireland. Business units are focused on its London estate - 300 acres of Mayfair and Belgravia in the heart of the UK’s capital - and developments elsewhere in London, Edinburgh, Liverpool, Oxford, Cambridge and Southampton. As at 31 December 2014, GBI had £5.2bn of assets under management.

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