Banda Property has sold 13-14 Buckingham Gate, SW1, in an off-market deal to Adelie Estates for around £17m.
The property, which was acquired in 2013 from Henderson for £11.5m, has planning permission for eight flats.
The Grade II-listed façade and the structural framework of the building will be retained.
Edo Mapelli Mozzi, chief executive of Banda Property, said: “We will be focusing our attention on larger-scale multi-unit developments going forward, as part of our wider growth plan.”
All parties represented themselves.
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