Gruppo Romeo, the European real investor owned by Italy's Romeo family, is eyeing the sale of 7 Old Park Lane, a super-prime £150 million office redevelopment in Mayfair, CoStar News can reveal.
Market sources this week said Cushman & Wakefield had been instructed to market the 55,0000-square-feet office, which is located in a prime location in Mayfair on the doorstep of Knightsbridge and Belgravia.
Gruppo Romeo, a major European real estate investor based in Italy and a specialist in luxury hospitality, bought the building in 2015 from Meridian Properties for £82.7 million.
Its Romeo London team has redeveloped the vacated building as a contemporary workspace that it says meets the "classical charm and bespoke care of a luxury hotel". The offices are spread across the lower ground, ground and eight upper floors, two of which feature private terraces.
The development is scheduled to complete in the third quarter of this year.