The US Embassy’s office space in Mayfair could be bought by Chelsfield partners in a deal worth a potential £300m.
The United State’s government is reportedly in talks to sell the 999-year leasehold for their Mayfair offices to Chelsfield Partners, the investment partnership responsible for over 25m sqft of office space in London.
Sir Stuart Lipton and Elliot Bernerd’s company are emerging as favourites to secure the purchase of the building which has served as US government office space for over 200 years.
The Embassy offices were brought to market in December last year, when the US government announced plans to relocate the US Embassy to a purpose-built high security office building in the Nine Elms area of Battersea, south London.
Securtiy issues at the Grosvenor Square offices are the US governments reasons for the move, which they placed in the hands of property firm Cushman and Wakefield last year.
Despite the fact that Chelsfield Partners is responsible for a large portion of office space around London, Including Broadgate, Ludgate Circus and the ITN building, it’s thought that the prime Mayfair location will be turned into residential space or a hotel if the sale is completed.