Quinata Global has bought a 105,000 sq ft office building in St Albans, Hertfordshire, for residential conversion.
Ziggurat House was bought for around 18m from Augur Buchler Partners and has a gross development value of approximately £150m.
The building has consent for 129 flats under permitted development rights, although Quinata is currently looking at increasing the number to 175.
Quinata intends to complete the conversion by early 2016. The deadline for permitted development rights is due to expire in May 2016.
Quinata is also working on conversion schemes in Dorking in Surrey, Fulham and New Barnet.
Savills and Lambert Smith Hampton advised Augur Buchler Partners.
