London Business School has bought 27 Sussex Place, NW1, from the Royal College of Obstetricians and Gynaecologists and the Crown Estate.
The building is adjacent to LBS’s 26 Sussex Place home.
The RCOG will take a lease back for three years at the 60,000 sq ft property on Regent’s Park.
The Sussex Place transaction, on which Delancey advised, comes just a few years after LBS’s acquisition of the historic Old Marylebone Town Hall on a long leasehold interest from Westminster Council.
Delancey also advised upon a £50m fit-out and extension of the town hall property from 70,500 sq ft into a 95,500 sq ft teaching facility. Following a £25m donation from Idan Ofer, industrialist and principal of the Quantum Pacific Group, the facility is to be named the Sammy Ofer Centre in honour of Ofer’s late father, Sammy Ofer, a shipping magnate and philanthropist.
Delancey also advised on LBS’s expansion of its 26 Sussex Place site from 200,000 sq ft to 300,000 sq ft and the regearing of its lease with the Crown Estate.
Together with a £25m donation by chemical engineer Jim Radcliffe last year, the school can now remain in place for a further 125 years.
Mark Enderby, development director for Delancey, said: “The deal will help the school to prosper financially and hopefully house some of the world’s new business leaders.
Professor Sir Andrew Likierman, dean of the London Business School, said: “We are committed to increasing our impact in the years to come through an increase in faculty and research as well as more students and alumni. To achieve this, we have invested substantially in our London campus.”
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