TPG Angelo Gordon and Beltane Asset Management complete acquisition of prime Belgravia office building
JLL and Savills instructed as joint leasing agents for One Chester Street, SW1
TPG Angelo Gordon and Beltane Asset Management have completed the acquisition of a landmark corner office building at the junction of Chester Street and Grosvenor Place in Belgravia, London.
The circa 50,000 sq ft headquarters property comprises six floors plus lower ground and benefits from dual frontage onto 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 with private terraces offering fantastic views as well as high specification facilities including showers and bike storage being provided in the lower ground.
The building's location offers excellent connectivity, ideally positioned within a short walk of both Green Park and Hyde Park Corner underground stations and within close proximity to Victoria train, underground and coach stations.
JLL and Savills have been jointly instructed as leasing agents for the scheme, with Pilbrow & Partners appointed as the architect.
Alex Browning, Head of West End Office at JLL, commented: "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.”
Hunter Booth, Director at Savills, commented:“One Chester Street occupies a prestigious position in the West End and its high-quality refurbishment will add much needed Grade A office space to the market. It will make the ideal headquarters location for any occupier looking for excellent connectivity and design.”
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 whilst respecting the architectural heritage of this prestigious Belgravia address."