Member Article

Grosvenor seeks £95m leaseholder on premium Mayfair offices

Property developer Grosvenor has begun the search for a 125-year leasehold interest at its recently redeveloped retail and office building at 20 Grosvenor Street in Mayfair.

Grosvenor are seeking offers in excess of £95m for the 43,000 sq ft offices, for which it will retain the freehold as part of its 300 acre estate in Mayfair and Belgravia.

Work on the premium office space, which was let to KPMG in 2014 on a 15-year lease, was completed last year and designed by architects Flanagan Lawrence.

The building itself sits right in the middle of Grosvenor’s Mayfair estate, which is currently undergoing a transformation as public spaces, shops, galleries, hotels and restaurants are all revamped.

Craig McWilliam, Executive Director, London Estate at Grosvenor Britain & Ireland, commented: “We intend to use the proceeds from 20 Grosvenor Street to continue Mayfair’s evolution, investing in projects which enhance the area as a great place to live, work and visit.

“20 Grosvenor Street is a very attractive office building. It demonstrates Grosvenor’s ability to transform outmoded heritage buildings into beautiful, functional office and retail space suitable for world-leading businesses.

He added: “Successful developments like 20 Grosvenor Street help to maintain and enhance the West End’s contribution to London’s economy.”

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