Land Securities agreed to sell an emblematic London Office used by the Ministry of Justice for £ 245 million to the company owned by the Magnet of the multimillionaire Surinder Arora.
Arora Group will buy Queen Ana's mansions in 102 Petty France, Westminster, in the midst of the “recovery” of the real estate market of the center of London.
Land Securities (Landsec) said that the sale is part of its plans to collect £ 2 billion of its offices portfolio for 2030 to focus on the most profitable areas of your business.
Executive director Mark Allan said the sale “provides solid evidence of continuous recovery in the investment market of the center of London.”
The brutalist building was built in the 1970s at the site of the original Mansions of Queen Ana that were luxury apartments of the Victorian era.
The current lease to the Ministry of Justice will expire in December 2028, at which time the building will need significant renewal, Landsec said.
The sale occurs after Arora recently presented plans for a third track in Heathrow, rivaling that of the airport owners.
The proposals involve a shorter track that would mean that the M25 highway does not need to be diverted.
The Group Arora Plan has an estimate of costs of less than £ 25 billion, not including the redevelopment of the existing central area of the airport.
Arora Group specializes in Property Management, Construction and Hotel, and is one of Heathrow's greatest owners.
The sale of Queen Anne's mansions is expected to be completed in December of this year.
