London-based global real estate investor SFO has acquired a freehold interest in London's Mayfair district which it plans to redevelop into a prime office property.
Financial details were not disclosed.
The office asset, at 11-15 Farm Street, is close to London's prestigious Berkeley Square. The property was sold by a consortium of private investors.
SFO said it planned to transform the current property into a modern grade A office building, to designs by PLP Architecture. The new scheme will be suitable for single or multiple tenants, offering around 15,000 ft2 (1,400 m2) of floor space. Under current plans, the new office should be delivered in 24-36 months.
Mohamad Abouchalbak, CEO of SFO commented: 'We are excited to have acquired this rare and fantastic scheme in Mayfair, which illustrates our focus on prime commercial assets in superior and well established locations in Europe.
'With an expected 24 to 36 months to delivery, the asset will be ideally positioned to capture post-Brexit and Covid-19 pent-up demand.'
