Taylor Wimpey sells prized London development
A London development, once occupied by the Courts and Tribunal Service, will be knocked down to make way for 76 new residential apartments worth 70m pounds.
A London development, once occupied by the Courts and Tribunal Service, will be knocked down to make way for 76 new residential apartments worth 70m pounds.
Housebuilder Taylor Wimpey sold St Dunstan's House, a seventies office block in Fetter Lane near Square Mile, for £30m, sources told the London Evening Standard newspaper.
The site was auctioned for £10m more than the asking price of £20m as 20 bidders rivalled for the property.
Article continues belowTry 6 free issues of MoneyWeek today
Get unparalleled financial insight, analysis and expert opinion you can profit from.
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The offices will be torn down for the development of 52 one-bedroom flats worth £800,000 each and 24 two-bedroom apartments worth £1.3m each.
Residential apartments are a rare development for Square Mile, which is predominately occupied by offices.
RD
