Derwent London acquires headlease interest in Bush House in £13.5m deal
Property specialist Derwent London has announced the acquisition of the headlease interest of a prominent London building.
The firm has acquired the seven-year headlease interest in Bush House, South West Wing WC2 for £13.5m before costs.
Facing the Strand, Bush House is a Grade II listed building that was formerly home to the BBC World Service.
The group, which already owns the freehold of the 103,700 sq ft office building, is being acquired with vacant possession after long-time tenant HMRC vacated earlier this year.
Paul Williams, chief executive of Derwent London, commented: “This acquisition accelerates our refurbishment ambitions for this exciting site as well as creating immediate marriage value for the group.
“We intend to restore our part of this London landmark to the prominence it deserves, ensuring the most modern, adaptable and sustainable design-led offices.”
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