Clivedale London has acquired the long leasehold on the Crown Estate’s 20-24 Carlton House Terrace.
The company is purchasing the building on a 103-year lease, which was previously owned by a LaSalle pension fund client.
JLL acted for the seller.
The existing building comprises 89,000 sq ft of office space, spread across eight floors, in addition to 14 residential apartments and a 324-space underground car park.
The building is leased to Anglo American and serves as the UK headquarters for De Beers. In March 2020, the companies will relocate to a new HQ at 17 Charterhouse Street.
Clivedale plans to refurbish or completely redevelop 20-24 Carlton House Terrace and will work closely with the Crown Estate, immediate neighbours and Westminster City Council.
This is the latest move by Clivedale to extend its central London portfolio of commercial assets. It recently acquired 75-77 Brook Street in Mayfair, which is being developed as a super-prime office development in conjunction with the freeholder, Grosvenor.
Tarun Tyagi, chief executive of Clivedale London, commented: “This further builds on our philosophy of investing in iconic locations, creating beautiful buildings and delivering best-in-class services. This investment also illustrates Clivedale’s continued ambition to grow its portfolio of projects across the spectrum of uses in the finest locations in London and globally.”
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