Jul 17, 2019

BT agrees £210m sale of historic London headquarters

BT has agreed to sell its historic London headquarters site to a real estate private equity firm as part of a large-scale overhaul of its business. The telecoms group said on Wednesday it had agreed to sell the building near St Paul's Cathedral in London for £209.6m to a fund run by London-based private equity investors Orion Capital Managers. James Beckham, head of London investment properties at agents CBRE, said the BT HQ was "a prime opportunity in a constrained market". The BT building sits on the sanctuary of the ancient church of St Martin's Le Grand, in the shadow of St Paul's Cathedral. Aref Lahham, founding managing director at Orion, said the group had "Exciting plans" for the BT building that would "Enhance its position in the City of London's Cultural Mile", without elaborating further.

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