Manchester United Football Club is to lose its London headquarters on Piccadilly, according to reports in the Evening Standard.
Since last year the premier league football club has resided in the prime real estate of Stratton House opposite Green Park and the Ritz.
But now property insiders say Stratton House is to be sold by its owners – the Jersey-based trust, West End of London Property Unit Trust (Welput).
Welput, which is managed by the global fund manager Schroders, bought the property in 2005 for a cool £82.5m.
Since moving out of its offices on Pall Mall last year, the Red Devils take up 11,500 square feet of Stratton House.
Strutt & Parker and DTZ are rumoured to be managing the sale, acting as joint agents.
Any sale of the building is expected to generate huge interest. Stratton House completed a major overhaul in 2009 which included the sale of a luxury penthouse apartment inside the building. At close to £30m, the sale of the penthouse was a then record for the area.
One source close to the deal told the Standard: “This is prime freehold, it’s brand new and it has all the attributes to appeal to any overseas buyer.”
Last year Manchester United won the Premier League Championships. This year hasn’t been as plain sailing. At second from top of the league, the jury’s out on whether arch rivals Manchester City or Tottenham Hotspur will top the league – the Devils could be losing their home and glory.
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