Threadneedle Investments has gone under offer to purchase Pembroke Real Estate’s 20-21 St James’s Square, SW1.
The purchase – on behalf of a private banking mandate – was secured for a £125m consideration. The block was put up for sale at £120m in October last year.
Initially touted as a residential conversion opportunity, it was then relaunched as an office refurbishment in February in the face of increased hostility towards office-to-resi from Westminster council.
The grade A building sits on a 0.4-acre site and covers 70,797 sq ft, including a town house.
CBRE advised Pembroke.
