Invista Real Estate sells Westminster offices

Crown Estate acquire 118,403 sq ft offices of the British Council for £34m

Article posted: 20 Jan 2011

The Crown Estate, the company responsible for managing properties previously owned by the Queen, has purchased the UK headquarters building of the British Council at 10 Spring Gardens, London, SW1, just off Trafalgar Square.

Invista Real Estate sold the 73-year head-leasehold interest in the property on behalf of clients for £34m, a yield of 6.7%. The Crown Estate already owns the freehold.

10 Spring Gardens comprises 118,403 sq ft of office space in Westminster, with the Council’s lease having a further nine years to run.

Nearby Regent Street represents the largest concentration of value in The Crown Estate's portfolio and is both commercially and historically important. All the property in Regent Street from Oxford Circus to Piccadilly Circus is part of The Crown Estate.

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Posted by Sara