GE and O&H plan biggest ever Mayfair scheme (UK)

GE Real Estate and O&H Properties have formed a joint venture to redevelop a series of blocks on Grafton Street and Bruton Street in Mayfair, in what could become the biggest ever development in the area.

O&H has agreed to take a 50% stake in the Grafton Estate, which was owned by Benchmark until it was taken over by GE in April.

The proposed scheme would involve the redevelopment 8, 9-10 and 11-14 Grafton Street, 22-24 Bruton Lane and 6-10 Bruton Street. The redevelopment of the site could provide up to 200,000 sq ft, a rarity in Mayfair where big schemes have proved difficult to achieve because of planning restrictions.

It is understood that O&H has paid around £70m for the Grafton stake, plus two other GE buildings in the area which it has bought outright. The two buildings are 25-28 Old Burlington Street and 7-8 Swallow Street.

Strutt & Parker is advising O&H.
Source: Freeman

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