The list of bidders hoping to secure Crown Estate’s Metropole building in the West End has shortened to just four.
Stanhope, backed by Singapore real estate CapitaLand, and Exemplar, which is funded by Morgan Stanley Real Estate Funds (MSREF) are the two English companies currently left in the bidding.
Ballymore, an Irish developer who is building the biggest residential tower in Europe in Manchester soon, is the third name on the shortlist.
The Fourth name on the list is Australian residential developer Modern City Living, with its backers The Lustig & Moar Group and Macquarie Bank. It has got its place on the list thanks to their plans for a 177.000 sq ft 6-star hotel and 100 luxury flats.
Short-listed candidates are now being interviewed about their proposed developments and are being invited to up their bids.
The shortlist missed out some big names in development – including Asif Aziz, Candys and Harry Handelsmann.