International publishing house Condé Nast has reportedly sold the leasehold of office building Vogue House in Hanover Square London to Global Holdings Management Group, a developer of offices, hotels and luxury residential.
Transaction details were not disclosed, but Condé Nast was said to be seeking over £70 mln for the seven-storey premises.
The Church Commissioners for England, the asset manager for the Church of England, is the freeholder of One Hanover Square and the surrounding site. However, the building was purpose-built for Vogue which first took up occupancy in spring 1958.
As well as Vogue magazine, the Hanover Square premises was also the headquarters of publications including GQ and Tatler. It currently amounts to 62,777 m2 (5,830 m2) of leasable space.
A mooted scheme by Orms architects suggests the premises could be refurbished and extended to some 88,000 ft2 by its new owner.
Global Holdings is currently working on a number of projects in the UK capital, including an all timber net zero carbon office in London, Holborn, set to become the UK's largest full timber fram buidling.
Conde Nast announced a year ago that it would be leaving Vogue House after six decades to relocate to the Adelphi building in Embankment, a building with some 77,000 ft2 of space.
Knight Frank brokered the deal.
