Consensus Group’s Vincent Tchenguiz has decided to buy the Standard Chartered building for a price of £200m. The 200,000 square foot commercial building is currently under the ownership of a Middle Eastern Company who bought it back in the fall of 2005 for £120m. The building is located at
Currently rented out at £10m per annum, it was originally bought from the London Unit Trust. After that it went through a £170m deal for sale and leaseback to the Sloan Capital company, a property development country heavily involved with the tycoons of the horse racing industry.
The transaction will be the first commercial deal that Vincent Tchenguiz has done since the purchase of the Rainlodge student hall in
The company has also sold properties around Britain over the last two years including, most predominantly, the Shell-Mex House in London which was taken over by Westbrook, an American company, for the value of nearly half a billion pounds.
More businesses now however are looking to take out leases on the work places they require rather than the rising costs of buying them. A lot of companies have even decided to rent office space and desk space. Many areas such as