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Article: CHRISTIE'S SET TO CASH IN ON MOVE FROM MAYFAIR HQ.
- Article from:
- The Evening Standard (London, England)
- Article date:
- April 9, 2001
- Author:
CopyrightCOPYRIGHT 2001 Solo Syndication Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: MIRA BAR HILLEL
THE PROPOSED move of auctioneer Christie's from its Mayfair headquarters and South Kensington could allow the firm to cash in on redevelopment profits worth millions of pounds.
Experts believe the proposed move to Somerset House will trigger a scramble amongst developers keen to cash in on one of the prime sites in the capital. The main block in St James's is owned by the auctioneer, which also lease a further 125,000 feet from the Crown Estates.
According to Tom Marshall, of estate agents GVA Grimley, the Christie's site would be worth [pound]40-[pound]60 million if sold to a developer for conversion into flats. When ...