AMP Asset Management’s refurbishment scheme at 1 Bruton Street, London W1 – the former Time Life building – has gone under offer to General Electric Company, as exclusively tipped by EGi.
Letting agent Keith Williams of Jones Lang Wootton confirmed that the 4,087 sq m (44,000 sq ft) building had gone under offer but would not name the occupier.
GEC is thought to be taking the building as a replacement for its UK headquarters at Stanhope Gate, London W1. Reportedly, it has agreed a 25-year lease at around £484 per sq m (£45 per sq ft).
AMP was quoting £511 per sq ft (£47.50 per sq ft) for the building.
GEC is unrepresented.
EGi News 26/06/97
