GCC investment company GAEA has acquired Bentinck House, an Edwardian mansion on Bolsover Street, W1, which is currently leased to serviced office space provider Regus.
The deal was backed by Bank of London and the Middle East, which provided £16.3m financing.
According to Radius, the 17,785 sq ft building was owned by the Langham Estate, a property arm of Mount Eden Land, and changed hands for £17.5m.
The purchase comes amid renewed interest in prime London office space, with Cushman & Wakefield data showing occupier demand hitting the highest level for a decade.
Kamil Karam, chief executive of GAEA, said: “Investors in the GCC are once again drawn to UK real estate, particularly in prime locations such as the West End.”
Rashid Khan-Gandapur, director for real estate finance at BLME, added: “The Bentinck House purchase is a key example of strategy that is driving GCC investment into UK real estate – a property in a popular area and close to many transport links, with the potential to boost returns through active asset management.”
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