The Crown Estate has gone under offer to buy Bafta’s HQ at 195 Piccadilly, W1, as tipped by EG earlier this month.
The Monarch’s property company is in negotiations to acquire the 81,000 sq ft Princes House from Aviva Investors for more than £76m – a 5% yield for the property.
Five other parties, including DTZ Investment Management on behalf of Strathclyde Pension Fund and US fund Starwood Capital, also submitted bids for the block.
The acquisition would fit with the Crown’s £500m investment and regeneration programme in St James’s, where it already owns 50% of the buildings.
The Crown is advised by Cushman & Wakefield; Knight Frank is acting for Aviva.
jack.sidders@estatesgazette.com
