London office space 'set for sale'

Office design news from Morgan Lovell

Published on 02-12-2010

A building offering 550,000 sq ft of office interior space in London could be sold in the coming weeks should a deal be struck, it has been claimed.

Plantation Place in the City is owned by a consortium of businesses and could achieve in excess of £448 million should any deal go through, Property Week reports.

Constructed in 2006, the premises could now be sold to clear the debts of the consortium who own it, with a deal currently on the cards by developer Brookland but it is presently stuck in deadlock.

Nassar Hussain, managing partner of Brookland, said: "This proposal attempts to address these issues and represents a valuable and potentially unique opportunity to achieve a consensual, mutually beneficial solution that is relatively simple and should provide a positive outcome."

Elsewhere in the capital, the Clarence Portfolio in London's City Fringe district has been purchased by an unnamed property fund for £22.7 million.

The portfolio consists of three properties offering in excess of 102,000 sq ft of office interior space - 1-3 Dufferin Street, 28-42 Banner Street and 140 Old Street.

Posted by Adrian Norman