London office space in St. James’ Street purchased by Lothbury.
West End office space to be renovated after new purchase deal from Lothbury.
Windsor House has been acquired by Lothbury with the aim to create new office space in London’s West End.
The building was purchased for around £20 million by the investment company and is located on St James’ Street in the heart of the West End. Windsor House will be renovated and developed into 32,000 square feet of office space, there are also plans to convert the top floor into residential space.
The company beat competition from the likes of IVG and Scottish Widows Investment Partnership to acquire the site from Aberdeen Asset Management. Lothbury plan to start the development in late 2012 to meet some of the heavy demand for grade A office space in Central London.
In other London office space news Cancer Research have vacated their Kingsway offices. The building will now undergo a full refurbishment and be available to lease again soon.
Cancer Research UK recently decided to move their headquarters to the Angel Building in EC1. The building’s manager DTZ Investment Management has appointed Monmouth Dean to advise on the renovation of the London office space.
“The combined knowledge and experience from both Monmouth Dean, local specialists, and the market coverage of Central London via DTZ means that we have the best team for delivering a high quality product. This will enable the fund’s objectives to be met by creating stable income return with prospects for rental growth and in turn capital appreciation over time,” commented a spokesperson from DTZ Investors.