Indian developer buys 22 Hanover Square for £155m
Indiabulls Real Estate has bought JLL’s former office at 22 Hanover Square in London’s Mayfair for £155m.
The 87,444 sq ft building has been purchased from Scottish Widows Investment Partnership, now part of Aberdeen Asset Management, which put the building up for sale in April through H2SO for £130m.
It is thought Indiabulls fought off competition from the West End of London Property Unit Trust and TIAA Henderson.JLL is vacating the building to consolidate staff in 30 Warwick Street in Soho.
Sameer Gehlaut, chairman, Indiabulls Group said: “The building’s location in prime Mayfair adjoining Bond Street is truly exceptional and Hanover Square will become arguably London’s ‘best connected’ square when the new Bond Street Crossrail station opens in 2018. The building has huge potential for redevelopment.”