The Central Cross development at Tottenham Court Road and 1-2 Stephen Street has been bought by real estate investor Derwent London for £146 million. This is its first deal since 2007 after the blow suffered by the commercial property market as a result of the economic downturn.
The extra 23,300 square metres of space has risen the firm’s holdings, in the West End districts to the north of Oxford Street and close to Fitzrovia, to 1.5 million square feet. (more…)