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.