Camden council has confirmed the sale of 1960s office block Bidborough House, WC1, to University College London.
As revealed by Estates Gazette last month, the university went under offer to buy the 42,000 sq ft block, for circa £25m .
The sale is expected to complete in the second half of 2014 when the council vacates Bidborough House and relocates staff to King’ Cross Central, N1.
Andrew Grainger, director of UCL Estates, said: “The purchase represents a rare opportunity to acquire an excellent building on a freehold basis close to our existing Bloomsbury campus. We are expecting to take possession of the building in late 2014 and take up occupation soon afterwards.”
Theo Blackwell, Camden’s cabinet member for finance, said: “By reducing the amount of floor space the council requires and disposing of old and inefficient buildings, we can raise funds to ensure that our new community facilities and office space are provided at no additional cost to the taxpayer.”
Lambert Smith Hampton represented the council.
joanna.bourke@estatesgazette.com
