The existing properties will be demolished and the sites combined to create a new office building, designed by Rolf Judd, on basement, lower ground, ground and six upper floors, with typical upper floorplates of 7,650 sf. Construction will start on site in the summer this year and completion is anticipated for March 2003.
The acquisition is FISPAM's third in central London this year - it has already invested £62.5 million ($87.5 million) at 84 Eccleston Square and 21 Dartmouth Street, both in Victoria.
FISPAM, advised by Strutt & Parker, bought the sites on behalf of Friends Provident. Ingleby Trice Kennard represented The Mercers Company and Insignia Richard Ellis the Bank of England. CB Hillier Parker and Strutt & Parker will be letting agents for the scheme.
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