Grosvenor Square US Embassy goes on sale...

[Massimo]

American Embassy goes on sale

12:46 | 23.10.08
http://www.propertyweek.com/story.asp?storycode=3125831&origin=PWdailynews
http://www.propertyweek.com/Pictures/460xAny/j/t/y/USembassy.jpg
By Georgie Hobbs

The American Embassy building in Grosvenor Square, Mayfair has 
officially gone to market.

The move follows the United States Department of State’s decision to 
acquire a site in the Nine Elms Opportunity Area in Battersea, South London.

The US Department of State is offering a long leasehold on the 270,000 
sq ft, which has a footprint of approximately 40,250 sq ft .

The lease, granted by The Grosvenor Estate in 1954, is for a term of 999 
years with the rent fixed at one peppercorn a year for the whole term.

The disposal of the Embassy is dependent upon Congressional approval and 
getting planning permissions from the London Borough of Wandsworth for 
the Nine Elms Site.

Zoe Bignell, head of West End development at Cushman & Wakefield, which 
is advising the US Department of State on the sale, said: ‘This is a 
remarkable opportunity to acquire a unique site in an internationally 
renowned square in London’s most prestigious area.

‘We are expecting interest from around the world and will be seeking a 
purchaser with the experience, expertise, financial capability and 
commitment to maximise the potential of the site.’

Cushman & Wakefield is the sole agent. Expressions of interest will be 
sought towards the end of November.