A Mayfair property, once home to the Tchenguiz brothers’ Rotch Property Group and previously taken over by squatters, has been sold for almost £15m.
The 12,500 sq ft listed 18 Upper Grosvenor Street office building was made famous in December 2008 when it was taken over by squatters DA! Collective.
A private investor from central Asia has bought the now vacant building from Grosvenor on a 165-year-lease. The freehold will be transferred to the buyer once the property is converted for residential use.
On completion, the building is expected to have a £35m price tag.
Savills and Wetherell advised Grosvenor; the buyer was unrepresented.
joanna.bourke@estatesgazette.com
