The Government of Canada has sold the location of the Canadian High Commission in London, U.K. for $530 million.
Lodha Group acquired the property at One Grosvenor Square from the High Commission, which was advised by Savills on the transaction.
Canada is planning to revitalize Canada House on Trafalgar Square so that it can consolidate its diplomatic activity in the United Kingdom to one centrally-located space in London.
“There was exceptional interest from international parties for the property on Grosvenor Square,” says Canada’s High Commissioner to the U.K. Gordon Campbell. “We are looking forward to the move to Canada House on Trafalgar Square, Canada’s traditional home in the United Kingdom, in the next year.”
By consolidating operations to the Canada House, the High Commission will save operational dollars. The intention to sell the property was first announced in the House of Commons in February, 2013.
It would be nice to see the background as to why Canada would sell such an historic building a this time .Could we have kept the building and leased it to third party and kept I as a future investment .