Taylor Woodrow Property Co have paid over £7m to Kensington Gardens Estates for the freehold of 5-7 Mandeville Place, London W1.
The vendors bought the 15,000-sq ft 1950s office building in May last year and applied for planning permission for a 21,000-sq ft office redevelopment behind a facade matching the existing period streetscape.
Having received the permission, they then offered the property through an informal tender in which Taylor Woodrow were successful.
John D Wood acted for Kensington Gardens Estates, while Henry Davis & Co advised the purchasers.
