Buyer sought for £24m office in Bayswater regen area

Lionsgate Properties has appointed Allsop to market 31 St Petersburgh Place in Bayswater, W2.  Offers are sought in excess of £24m. The 22,020 sq ft building was recently refurbished by developer Finchatton and architects EPR to provide terraces, parking and rear courtyard. It is currently occupied by three tenants providing an annual rent of just under £1m. The full vacant possession is expected to be achieved by the end of 2024. The 19th century building also benefits from the favourable pre-app opportunity, created by Trehearne Architects, to add a floor and increase the workspace to 31,651 sq ft. The building sits within the Bayswater regeneration area, which features some £3bn of residential and commercial development. Image © Trehearne Architects