London-based developer English Rose Estates has completed the £20 mln (€25 mln) purchase of composer and musical theatre impresario Andrew Lloyd Webber’s former Covent Garden headquarters.
London-based developer English Rose Estates has completed the £20 mln (€25 mln) purchase of composer and musical theatre impresario Andrew Lloyd Webber’s former Covent Garden headquarters.
English Rose Estates bought the office building at 22 Tower Street from Spanish investor Allegra Holdings.
The developer plans to convert the 21,000 sq ft (2,000 m2) Grade II listed building into 24 luxury flats.
The West End property is let to Lloyd Webber’s theatre business The Really Useful Group until 2016. However, the firm has largely relocated to a nearby scheme at 17 Slingsby Place and English Rose expects to agree a deal which will give it vacant possession of the property this year.
The group said it has £300 mln earmarked for investing in West End residential-led properties in 2014. So far this year it has bought assets including 21-22 Poland Street, W1, and 56-69 Rupert Street, W1.
