A
commercial property investment has been announced by British Land.
The organisation is set to purchase and redevelop Marble Arch House in London's West End, in partnership with The Portman Estate.
Located on the corner of Edgware Road and Seymour Street, Marble Arch House will be changed into a five-storey mixed-use facility.
There is set to be 60,000 sq ft of
West End offices, as well as 15,000 sq ft of retail space, while the adjacent building will comprise of ten luxury residential apartments and a 5,000 sq ft restaurant.
British Land said the acquisition adds to its current
commercial property investment into developing central London office space.
By 2014 it is hoped there will be 2.2 million sq ft of "high-quality" offices in the city, the organisation said of its programme.
Head of offices at British Land Tim Roberts asserted: "Marble Arch House will offer high-quality accommodation at a time when supply will be limited in a West End location which is being regenerated."
British Land says its focus is on high-quality buildings set in prime locations, which is one reason why its occupiers often sign long-term leases with the firm.
Posted by David Hudek
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