British Gas is putting its landmark tower at Marble Arch, London, W1, on the market. Although a price has not been quoted, sources expect the bids to go over £25m.
The 1960’s building occupies a 0.4ha (1 acre) street block at the Junction of Oxford Street and Edgware Road. It includes 9,290 sq m (100,000 sq ft) offices currently occupied by British Gas, an Odeon cinema, shops and restaurants as well as car parking.
Jones Lang Wootton’s John Stephen, adviser to British Gas, says the building could suit a range of uses including offices, residential, hotel and retail/leisure. He adds: “The tower has spectacular 360 degree views over Park Lane, Hyde Park and central London. You can’t build towers like this anymore.”
EGi news 16/08/96
