Dragons’ Den star Touker Suleyman has sold a former aristocratic residence-turned-office building in Fitzrovia to Randox Laboratories for £29m.
Randox, which develops tests and services for personalised medicine, plans to comprehensively refurbish the building for occupation as a new London headquarters and Institute of Personalised Medicine.
The freehold block contains just under 21,000 sq ft of office space and comes with planning consent for a change of use to educational purposes.
British-Turkish Cypriot fashion entrepreneur Suleyman’s company, Low Profile Holdings, appointed Savills to sell Boston House, a Grade I listed block on Fitzroy Square, W1, earlier this year.
Charlie Pascoe, senior surveyor in Savills’ London commercial development team, said: “Having formally launched Boston House to the market in January, the property was placed under offer only a month later, demonstrating the level of appetite for well-positioned refurbishment opportunities in central London.
“The Fitzrovia market continues to be one of the best-performing West End submarkets, being popular with buyers and occupiers alike, given the diverse amenity offering and excellent transport links.”
Built in the 18th century, Boston House was a speculative development designed to provide homes for aristocrats. However, following substantial damage during the Second World War it was converted to offices.
Suleyman’s Low Profile Holdings picked it up in 2017 for £24m. The entrepreneur has previously said that, despite his retail background, his property holdings are the most lucrative part of his business.
Alongside Savills, law firm Memery Crystal advised Low Profile Holdings. NCM Projects and Hill Dickinson represented Randox.
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