US Embassy to move in as HR Owen surrenders lease
Sunday 23 November 2008
Shareholders in HR Owen, the listed upmarket car dealership, will vote on a £10m property transaction tomorrow morning that could give the American Embassy a plush new home.
An extraordinary general meeting is expected to see investors approve the early surrender of the lease on its after-sales services site in Wandsworth, south London. Due to expire in 2017, the lease would instead be terminated some time between 2010 and 2012.
Landlord Ipcress, a subsidiary of Ballymore Properties, has offered the cash to the Bentley and Ferrari dealership so it can sell the site to the US Embassy.
The embassy has acquired five acres from Ballymore, having decided to move from its existing headquarters in Mayfair. The lease surrender will allow the embassy's development to go ahead.
Cushman & Wakefield, the property agent, is selling off the Mayfair building, while rival DTZ worked on the valuation of the Wandsworth lease surrender for HR Owen.
- 1 Autistic adults could take pure MDMA to 'reduce social anxiety'
- 2 Natalie Portman tells Harvard graduates: 'Accept your lack of knowledge'
- 3 Before you complain about your GP, this is what you need to know about actually doing the job
- 4 Father of 12 accused of raping, beating, starving and abusing his own children in US 'cult'
- 5 Charlie Charlie Challenge explained: not a Mexican demon being summoned — it's gravity
People are criticising Fifa World Cup sponsors with corrupt corporate logos
Natalie Portman tells Harvard graduates: 'Accept your lack of knowledge'
University league tables: Best universities for teaching standards rank Oxford, Cambridge and Coventry among top 20
Fifa corruption live: Uefa to consider pulling teams from Fifa tournaments if Blatter stays
Skull found in Spain could be the world's first-ever murder victim
EU referendum: David Cameron's rules are a 'democratic disgrace', says French-born Scottish politician set to be denied a vote
The day that Britain resigned as a global power
SNP fury as HS2 finds 'no business case' for taking fast train service to Scotland
Australian man punched in the face for defending Muslim women from abuse on train
A nation of inequality: How the UK is failing to feed its most vulnerable people
EU referendum: David Cameron to deny EU migrants and under-18s the chance to vote
iJobs Money & Business
£30 - 35k: Guru Careers: We are seeking a Pricing Analyst to join a leading e-...
£20000 - £25000 per annum + OTE £45K YR1: SThree: At SThree, we like to be dif...
£20000 - £25000 per annum + competitive: SThree: Did you know? SThree is a mul...
£55 - 65k (DOE): Guru Careers: A unique opportunity for a permanent C# Develop...