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22 Tower Street - London, English Rose buys former Lloyd Webber HQ in Covent Garden for 20m

Date: 09 Jun 2014

English Rose buys former Lloyd Webber HQ in Covent Garden for 20m

Fitzrovia-based developer English Rose Estates has bought the former headquarters of composer and musical theatre impresario Andrew Lloyd Webber's in Covent Garden for 20 million.

English Rose Estates bought the office building, 22 Tower Street, WC2, from Spanish investor Allegra Holdings. The West End property is let to Lloyd Webber's theatre business The Really Useful Group until 2016. However, the firm has largely relocated to nearby, 17 Slingsby Place, WC2.

Plans will be submitted to Camden council to convert the 21,000 sq ft Grade II listed building into 24 luxury flats.

A deal is expected to be agreed that will provide English Rose with vacant possession of the property this year.

English Rose director Ockert van den Berg said it is "a beautiful building and one of a number of developments we have in and around Covent Garden. There is immensely strong demand from local and international buyers that have bought into the Covent Garden lifestyle."

The group has 300m earmarked for investing in West End residential-led properties in 2014. So far this year it has bought assets including 21-22 Poland Street, W1, and 56-69 Rupert Street, W1.

By William Peterson

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