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.

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.

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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.

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