UK
Ireland
Scotland
London
Construction News
19/05/2008
Land Securities Sells Turnstile House For £43.5m
Land Securities has announced that it has completed the sale of Turnstile House, High Holborn, London for £43.5 million to The Ascott Group, the international serviced residence group with presence in over 50 cities and more than 20 countries.
The 83,400 sq ft building is currently leased to The Ascott Group, which operates it as a 192-bed serviced residence, trading as Citadines London Holborn-Covent Garden. The property also includes three retail units.
Gerald Lee, Ascott's Deputy CEO (Operations) said: "Ascott is buying this property because of its great location and the strong growth potential for serviced residences in London. The area has been attracting companies from the finance, media and banking sectors, and has an increasing number of office and retail developments. With the shortage of international class serviced residences to cater to the strong demand, we expect our property to continue to do well."
The sale proceeds will be recycled into the Land Securities Group business.
(CD/JM)
The 83,400 sq ft building is currently leased to The Ascott Group, which operates it as a 192-bed serviced residence, trading as Citadines London Holborn-Covent Garden. The property also includes three retail units.
-- Advertisement --
Gerald Lee, Ascott's Deputy CEO (Operations) said: "Ascott is buying this property because of its great location and the strong growth potential for serviced residences in London. The area has been attracting companies from the finance, media and banking sectors, and has an increasing number of office and retail developments. With the shortage of international class serviced residences to cater to the strong demand, we expect our property to continue to do well."
The sale proceeds will be recycled into the Land Securities Group business.
(CD/JM)
Latest Construction News
17/01/2025
Leeds Trinity University has officially opened its newly refurbished City Campus at 1 Trevelyan Square in Leeds.
Completed by GRAHAM Interior Fit-Out, the transformation of the central Leeds site introduces state-of-the-art facilities designed to improve learning and collaborate with industry partn
17/01/2025
Trammell Crow Company (TCC) has secured planning permission for a Grade A logistics scheme in Heywood, Greater Manchester, following a successful planning appeal.
The development will feature two state-of-the-art industrial and logistics buildings. One building will house two units measuring 4,796
17/01/2025
Poole-based developer AJC Group has celebrated a record-breaking 2024, delivering 100 affordable homes, a significant increase from the 72 units completed in the previous year.
Since 2023, AJC Group has completed and handed over 172 affordable homes across five sites.
In 2024 alone, the developer
17/01/2025
Plans for one of the most ambitious parks projects in London have taken a significant step forward, with Haringey Council securing nearly two additional acres of land around The Paddock nature reserve in Tottenham Hale.
The agreement with Thames Water marks a major milestone in the transformation o
17/01/2025
Islington Council has unveiled two draft guidance documents aimed at helping residents, businesses, and developers combat climate change by making buildings more energy efficient and fostering a greener, healthier borough.
The consultation seeks feedback on the draft Climate Action Supplementary Pl
17/01/2025
The City of Wolverhampton Council has unveiled a £98 million investment plan over the next five years to develop around 500 new homes across the city.
The proposal, part of the Housing Revenue Account (HRA) Business Plan, received Cabinet approval this week and now moves to Full Council for final
17/01/2025
Croydon Council has announced a significant milestone in the redevelopment of the Purley Pool site, with revised proposals submitted for a new leisure centre, later living housing, and the regeneration of the surrounding area.
A planning application for the site was initially submitted in 2024, pro
17/01/2025
The City of Wolverhampton Council has announced that demolition work has commenced on the New Park Village estate, marking the start of a major £40 million redevelopment project to transform outdated council housing.
Contractor DSM Demolition has begun pulling down poor-quality bungalows on Valley
17/01/2025
Hillingdon Council has acquired 12 new homes at Carpenters Court in Uxbridge.
Leader of Hillingdon Council, Cllr Ian Edwards and Cllr Steve Tuckwell, Cabinet Member for Planning, Housing and Growth, visited the site to officially mark the handover of the properties from local developer Kearns Devel
17/01/2025
Organisers of UK Construction Week (UKCW) have announced another major coup for the show's 10th anniversary year, with the news that UKCW London will be co-locating with the 14th edition of The Stone Show & Hard Surfaces, the principal industry event for surface design.
Established 26 years ago, th
