The Grade I listed St James’s home of the Royal College of Pathologists has been sold to a billionaire French family for around £72m.
Contracts have exchanged for the John Nash-designed 32,000 sq ft 2 Carlton House Terrace, SW1, which has the potential for a £160m residential conversion.
It has planning consent for a Weldon Walshe-designed scheme which would see the entire building converted into a mega mansion comprising six bedrooms, a swimming pool, spa and roof terrace.
Residential values for the building could reach £5,000 per sq ft, according to central London agents.
The new owner is expected to tweak the proposals to include family office space.
The property is held on a 125-year lease from the Crown Estate. Famous former residents include Lord Kensington in the 1800s and the Duke and Duchess of Roxburghe in 1921.
The Royal College of Pathologists, which has occupied the property since the 1970s is now looking to secure a new headquarters for Q1 2015. It agreed to surrender its leasehold of the St James’s property in return for financial assistance in finding new premises.
CBRE and Savills advised the vendor.
All parties declined to comment.
