Grosvenor Britain & Ireland has sold 20 Grosvenor Street on a 125 year lease for £96m to a client of the Shaftesbury Asset Management Group.
Grosvenor plans to recycle sale proceeds back into its long term £1bn London estate development pipeline.
Craig McWilliam, Executive Director, London estate at Grosvenor Britain & Ireland said: “The proceeds from 20 Grosvenor Street will help us continue to invest in our London estate, ensuring it both thrives and flourishes as a place to live, work and visit in the heart of London’s West End.”
The Shaftesbury Asset Management Group is an independent fund and asset management group headquartered in Luxembourg (including a regulated AIFM affiliate) and has platforms in Germany, France, Spain and Switzerland. The Group’s total assets under management currently exceed £1.2bn, on behalf of both institutional and private clients. It is at present seeking to acquire further real estate investments to a value in excess of a £800m in Spain, Portugal, France, Switzerland, Germany and the UK.
Knight Frank advised Grosvenor.