A luxury Mayfair office block is reportedly being bought by a US investor for around £100 million.
The property, 7 Old Park Lane was originally built as apartments in 1903 and was also a Roll-Royce showroom but has been converted into "hotel style" offices over the past two years.
It is being bought by US based Strategic Value Partners (SVP) which seeks to buy assets at a discount. Its portfolio of investments range from Californian power companies to Nordic paper manufacturers.
In March it bought a 112,000 sq ft City office building Senator, at 85 Queen Victoria Street, for £60 million.
The vacant 55,000 sq ft 7 Old Park Lane was sold by Italy’s Gruppo Romeo, which purchased it from Meridian Properties for £82.7 million in 2015 and has spent £25 million refurbishing it, according to property news website CoStar.
The offices are spread across the lower ground, ground and eight upper floors, two of which feature private terraces.
