Savills - Offices Sale - London, Hanover Square

Date: 04 Mar 2008

Japan Airlines International Limited, advised by Savills, has sold its EMEA head office, Hanover Court, 5 Hanover Square, to Mitsui Fudosan UK for £56 million.

Japanese developer, Mitsui Fudosan UK, together with Japan Airlines International, recently appointed Stanhope as development manager and submitted a planning application for a new build of 60,000 sq ft (5,574sq m) offices, a restaurant, storage and five residential units.

The existing building comprises approximately 45,000 sq ft (4,181 sq m) and is arranged over the ground floor and six upper storeys. It is currently occupied by some of Knight Frank's London staff, prior to its relocation to new headquarters at 55 Baker Street.

Simon Stone, a director of the development team, says: "This deal displays a continued confidence in what we regard to be a Grade A prime product."

Squire and Partners is the architect behind the new scheme. Mitsui Fudosan was represented by CBRE.

A CGI of the forthcoming development of 5 Hanover Square

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