TPG Angelo Gordon and Beltane Asset Management have acquired a corner office building at the junction of Chester Street and Grosvenor Place in Belgravia, London.
1 Chester Street
The circa 50,000 sq ft headquarters property comprises six floors plus lower ground and benefits from dual frontage on to both Chester Street and Grosvenor Place.
The building will undergo an extensive refurbishment programme, including the provision of new portico entrances, transforming it into a grade-A office destination.
Duncan Roe, partner at Beltane Asset Management, said: “One Chester Street represents a strategic addition to our portfolio. The planned refurbishment will reposition this asset to meet current occupier requirements while respecting the architectural heritage of this prestigious Belgravia address.”
JLL and Savills have been jointly instructed as leasing agents for the scheme.
Alex Browning, head of West End office at JLL, said: “Demand for grade-A office space in prime London locations continues to demonstrate remarkable strength. Alongside its exceptional positioning, 1 Chester Street will deliver the quality of specification, secure headquarters location and sustainability credentials that occupiers are actively seeking.”
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