Knight Frank has won the contract to advise Transport for London on a future £250m sale of its flagship headquarters at 55 Broadway, SW1.
The agent is understood to have been appointed to advise TfL on securing planning consent for a residential redevelopment of the 500,000 sq ft St James’s building, and then putting it up for sale.
TfL had considered a disposal of the property four years ago but never pursued a sale.
However, Estates Gazette revealed last month that the transport body had asked residential development agents to come up with proposals for the property.
Residential development agents suggested that TfL could seek as much as £250m for 55 Broadway but its location, coupled with the demand for central London residential, could push the sale price higher.
TfL is based in a number of offices across London and recently launched a 150,000 sq ft requirement for space on the South Bank through BNP Paribas Real Estate, meaning it could easily and quickly relocate staff from its Broadway base.
The property, which was commissioned in the 1920s, was considered more radical than London Underground’s former headquarters, and at the time of construction, was the tallest office building in London, at 174ft high.
joanna.bourke@estatesgazette.com
