BBC Radio 2’s studio home, 99 Great Portland Street, W1, has been sold to Scottish Widows Investment Partnership.
SWIP’s Halifax Investment Fund Managers paid £12m for 41,000 sq ft Western House, which is let to the BBC until 2034.
Nick Ireland, manager of HIFM, said: “This is an area of the West End which will be transformed over the next five years, with major developments due to complete at the former Middlesex Hospital and post office sites.”
He added: “The purchase is in line with the fund’s strategy to acquire assets with strong fundamentals, with the ability to unlock long-term capital returns.”
H2SO advised the buyer; the vendor, the trustees of Viscount Folkestone’s 1963 Settlement, were represented by Smiths Gore.
joanna.bourke@estatesgazette.com
