United Kingdom
Czech investment group KKCG has completed the £291m purchase of 1 St James's Square, BP's London headquarters, in one of the year's largest West End office deals.
The freehold, bought from Lifestyle International Holdings, comes with consent for large retrofit including new façade, two extra storeys, a roof terrace over the square and just under 121,000 sq ft of prime office space. BP leaves in April 2028, YardNine is development partner, and with no main contractor yet named the scheme is already on the London tier-one market's watchlist.
It is a marker of how far Czech capital has come in a famously unforgiving market and the opportunity runs well past the finance. A scheme like this pulls in a long chain of specialists: architects and interior designers, lighting, façades and glazing, joinery, furniture, stone and flooring, sanitaryware, smart access and building controls. Those are exactly the categories where Czech manufacturers and studios compete on design and quality, and the way in is the tier-two and tier-three packages specified twelve to twenty-four months before a building opens.
CzechTrade's London office is already working in this space. With a group of Czech design and manufacturing companies we are present at Atelier Bohemia, a permanent showroom at 3 Clerkenwell Road in London's design district, putting contemporary Czech lighting, furniture, joinery, fabrics, flooring and smart technology in front of UK architects, specifiers and developers. If you work anywhere in the built environment and you interested in Czech design, please reach out us at london@czechtrade.gov.cz.
Source: Building.co.uk
Prepared by the CzechTrade UK & Ireland team