In a bid to cash in on the “Crossrail effect” on property, Lord Sugar has snapped up Time Warner’s Soho HQ for £24m.
The building, 44-45 Great Marlborough Street, is located between the future Bond Street and Tottenham Court Road Crossrail stations.
Estates Gazette reports that Sugar’s Amsprop Estates bought the property from a private client of Helix Property Advisors and paid in cash.
Sugar is expected to refurbish the building once Time Warner’s lease expires in February 2014.
Architects’ impression of Crossrail Bond Street station eastern ticket hall over-site development at Hanover Square
Crossrail figures estimate the price of commercial space along the £14.8bn line to increase by 10% over the next decade.
Plans for the £1bn redevelopment of Tottenham Court Road station include new retail units, offices, residential spaces and new squares.
Crossrail has received approval for a 300,000-square foot retail, commercial and residential space above Bond Street’s eastern ticket hall at Hanover Square.
Architect’s impression of Crossrail Tottenham Court Street station
- Follow me @LondonlovesBiz and @shrutitripathi6
- Try our free newsletter
You need to read:
Lord Sugar: Nick Clegg is an “idiot” – sack him
Where to buy property in London in 2013 and 2014
FTSE bosses don’t want HS2 to be built, poll finds
Leave a Comment