1912-Built Block off Oxford Street Offers Redevelopment Opportunity
Royal London Asset Management has sold 117-123 Great Portland Street, London W1, to real estate investor Concord London Developments for £19.15 million.
The prominent corner building, which spans around 14,700 square feet, was originally developed in 1912 and had been owned by Royal London for decades. It retains many original features and is leased for a further nine years to HSBC, which is not in occupation.
Concord is reviewing refurbishment and change-of-use options.
Concord London was founded by Terry Hui, chief executive of Concord Pacific Developments and Christopher Murray of Ridgeford and W1 Developments. This development team and Brookfield are behind the landmark 50-storey Principal Tower at 2 Shoreditch High Street, designed by Foster + Partners.
Hanover Green advised RLAM. Concord was not advised.