Grosvenor Gardens House is an island block of 59,306 sf, comprising 11 retail and restaurant units on basement and ground floors totalling 16,907 sf, with 42,399 sf of office and ancillary space above let to 46 tenants.
Charles Butters, the Chesterton broker who acted for the vendor, Clerical Medical, said: "Clerical Medical saw an opportunity to book significant profits from the sale of this property and the price achieved reflects the premium value attached to well located blocks of this type that show both short and long term active management opportunities.
"The strong competition for this property, with significant under bidder interest, reflects the strength of demand from property companies in particular, for multi-let investments offering a low rental tone and low capital value per sf."
Teacher Marks represented Structadene.
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