INDUSTRY NEWS

Canadian Embassy puts its London offices in Mayfair up for sale

Canada has put its London embassy up for sale with the price expected to be anything up to $500m (£316m).

The Canadian High Commission offices and residence is located at Macdonald House, Mayfair, with the sale set to fund the purchase of a new building as well as renovating Canada House.

The building has been the London offices for the Canadian High Commission since the 1960’s following its purchase from the American government – which also used the offices as its embassy prior to that sale.

Located just off Grosvenor Square in Mayfair, the five-storey building offers 135,000 sq ft of prime London office space.

The Canadian government will look into investing money from the sale into renovating Canada House, used as a cultural centre for Canada in the UK capital since 1925, and also the $100m purchase of an adjacent building located on Cockspur Street.

It is not the first time it has attempted to sell Macdonald House – with it originally put on the market in 2008, before the final crisis forced the Canadian government to reconsider the sale.

However, following High Commissioner Gordon Campbell’s approach to the adjacent building of Canada House, the deal was revived.

He said the owners had finally relented in selling the Cockspur Street property after he continued to ask whether they were willing to sell the property. The Canadian government has now pushed on ahead with the deal.

High Commissioner Campbell expects the work to take anything up to 18 months.

News bought to you from DeVono Cresa, the award-winning commercial property advisers, specialising in Central London office, retail and leisure space.

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