15/02/2011 by Buildington
In June 2010 Land Securities agreed to forward sell its proposed 310,000 sq ft retail, office and residential development at Park House, 453/497 Oxford Street, London, W1 to Barwa Real Estate Q.S.C ("Barwa"). Construction of the scheme started on site in May 2010, with completion of the development due in November 2012.
Barwa will pay £250m for the site, all of the construction costs and a profit share on completion. Of the £250m site price, £225m will be paid immediately and £25m will be paid on practical completion.