The former home of BBC London was today set for a new future as Marylebone’s answer to One Hyde Park after changing hands for £75million.
The building has been bought by Royalton, a specialist developer of multi-million pound homes in expensive Surrey and Berkshire locations.
The Marylebone Gardens development will be the second major project in central London for the group. The building has planning permission for 19 flats and five houses.
The company compares the development, on Marylebone High Street, to the Candy brothers’ exclusive One Hyde Park flats, in Knightsbridge.
Royalton’s properties change hands for between £5million and £10million on average.
Chief executive Ken Parker said: “Marylebone Gardens is unique, situated in the heart of one the most desirable areas... We are going to create a new landmark address.”
Former owner Scottish Widows Investment Partnership has more than doubled its money after buying the site for £32million in 2011. Agent H2SO brokered the deal after putting it on the market for £60million.
BBC London occupied the building until 2009, when it relocated to Broadcasting House.
