The owners of Argyll have reportedly started a sale process seeking up to £400 mln (€475 mln) for the serviced office group and its portfolio of trophy buildings in the City of London and the West End.
According to a news report by the FT, the potential sale by private equity group Alpine Grove Partners and Baupost, Seth Klarman’s hedge fund, would be among the biggest office deals in the city since the pandemic.
The sale includes trophy buildings such as 1 Cornhill — the former Royal Insurance building opposite the Bank of England — and 33 St James’s Square, which is set for a refurbishment.
Argyll, which has operated in London for decades under different names, was acquired by Alpine Grove and Baupost through a restructuring at the height of the Covid-19 pandemic, when offices were forced to close.
