Final bids submitted for Old War office

Thu 11th December 2014, 2:53 pm

Six parties have submitted final bids to acquire the Old War office, which is expected to be sold for around 350 million.

Industry website CoStar reported that the following six people and organisations are competing to purchase the iconic Whitehall landmark:

- Li Ka-shin, Asia’s richest person according to the Bloomberg Billionaire’s Index
- Hinduja Group, an Indian family business
- Cavdet Caner, Austrian entrepreneur and property investor
- A joint venture including Anacott Capital, Silverfin Development, Fosun and former U.S. treasury secretary John Snow
- Robert Ng, chairman of Sino Group
- An unnamed Hong Kong developer represented by DTZ

In total around 25 bids were received, and a frontrunner is expected to be announced before the end of the year.

GVA began the marketing of the building in September expecting to sell for around £300 million.

Constructed in 1906, the building is surplus to the needs of the Ministry of Defence and is marketed as a mixed-use opportunity combining a high end hotel with luxury residential apartments. 

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