Beltane and TPG Angelo Gordon acquire 2 Park Street, W1
The acquisition marks the partnership’s third in the West End in 12 months
Beltane Asset Management (Beltane) and TPG Angelo Gordon, a diversified credit and real estate investing platform within TPG Inc. (NASDAQ: TPG) today announced the acquisition of the long leasehold interest in 2 Park Street, located in London’s Mayfair.
This transaction marks the third office acquisition completed by the partnership in the past twelve months, following the purchases of 45 Warren Street (formerly Fitzroy House) in Fitzrovia and 10 Old Burlington Street in Mayfair. These acquisitions continue to build upon the partnership’s strategy of investing in central London assets with strong long-term fundamentals.
Occupying a prominent corner position within the Mayfair Conservation Area a short walk from Hyde Park, 2 Park Street provides approximately 50,000 square feet of office space arranged over lower ground, ground, and six upper floors. The building benefits from four street frontages, excellent natural light and highly efficient floorplates whilst being equipped with amenities including showers, secure cycle storage and car parking.
The property has undergone significant refurbishment over the past five years. Beltane plans to further upgrade the asset to meet evolving occupier expectations and enhance long-term value. Architects Piercy & Co have been appointed to advise. The building is currently multi-let to six tenants.
Duncan Roe, Partner at Beltane, said: “The acquisition of 2 Park Street reflects our conviction in the resilience and appeal of London’s core office markets. This Mayfair asset combines strong fundamentals with clear opportunities for further improvement. In partnership with TPG Angelo Gordon, we will continue to invest in high-quality, well-located buildings where we can deliver enhancements that respond to occupier needs and create long-term value.”
Elsewhere in the capital, Beltane is progressing its landmark regeneration of Notting Hill Place, which will deliver 170,000 sq. ft NIA of next-generation office space with completion expected in mid-2027. Refurbishment works at Fitzroy House are currently underway and expect to complete in 2026. Meanwhile, approximately 145,000 sq. ft of office space remains available at One Millennium Bridge.
Jones Realty, Addleshaw Goddard LLP and FTI Consulting acted for Beltane and TPG Angelo Gordon; Colliers acted for the vendor.