The Barclay brothers have sold the Telegraph Newspaper headquarters in London's West End to Greek businessman Achilleas Kallakis' investment vehicle Pacific Group, for £ 218 mln (EUR 320 mln). The building, located at 111 Buckingham Palace Road, was formerly known as Victoria Plaza and provides some 12,400 m[sup]2[/sup] of office space, Italian news agency Ansa reported.
The Barclay brothers have sold the Telegraph Newspaper headquarters in London's West End to Greek businessman Achilleas Kallakis' investment vehicle Pacific Group, for £ 218 mln (EUR 320 mln). The building, located at 111 Buckingham Palace Road, was formerly known as Victoria Plaza and provides some 12,400 m2 of office space, Italian news agency Ansa reported.
The Barclay brothers acquired the asset in 2005 for £125 mln from German fund manager CGI. The Telegraph moved into the building last year and is paying an annual rent of £ 6 mln over a 20-year lease period.
