INDUSTRY NEWS

Telegraph’s London headquarters up for sale

Telgraph’s London office has been put on the market for £200m.

The centrally located office at 111 Buckingham Palace Road in Victoria was part of a package of buildings which was sold in 2008.

Previously, the London office was owned by a company who had connections with convicted property fraudster Achilleas Kallakis.

Greek businessman Kallakis bought the Telegraph block in August 2007 from the Barclay Brothers for £224m.

However in 2012, Kallakis and his business partner were convicted of defrauding AIB and another bank of £61m.

During the financial crisis the Victoria building was taken over by present owners, Dublin based Green Property.

The building which is currently let to the Telegraph Media Group – the publisher of the Daily Telegraph, uSwitch and The Metropolitan Police.

The Victoria building, which is opposite Google’s office at Belgrave House, is set to have a rent review in 2016. Current rent is costed at a guide of £40 per sq ft.

Developed in 1983, the building was significantly refurbished in 2003 and has a contemporary feel.

The office space has a ground level security office, private ‘Sky Lobby’, onsite parking, in-house cafe and restaurant.

The 230,000 sq ft of office space is expected to receive offers in excess of £200m.

By: Kirsty MacGregor

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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