en.Wedoany.com Reported - US investment management firm TPG Angelo Gordon and UK real estate company Beltane Asset Management have jointly acquired a corner office building located at the intersection of Chester Street and Grosvenor Place in the Belgravia area of London.
This headquarters building spans approximately 50,000 square feet across six floors plus a basement level, with street frontage along both Chester Street and Grosvenor Place.
The building will undergo a major renovation, including the construction of a new entrance porch, with the aim of transforming it into a Grade A office building.
Duncan Roe, Partner at Beltane Asset Management, stated that 1 Chester Street is a strategic addition to its portfolio, and the planned renovation will respect the architectural heritage of this prestigious location while repositioning the asset to meet current tenant needs.
JLL and Savills have been jointly appointed as leasing agents for the project.
Alex Browning, Head of West End Offices at JLL, noted that demand for Grade A office space in central London locations remains strong, and 1 Chester Street, with its prime location, will offer the high specifications, stable headquarters position, and sustainability credentials that tenants seek.
