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Ronson Capital Said to Buy London Tower From Derwent for $108 Million

Ronson Capital Partners Ltd. bought an office building on the River Thames from London commercial- property developer Derwent London Plc (DLN) for about 70 million pounds ($108 million), according to two people with knowledge of the deal.

The 13-story building was sold last month, the people said, declining to be identified because the transaction is private. The property at 157-166 Millbank has 74,500 square feet (6,921 square meters) of space and could be converted into residences, according to Derwent’s website.

Henry Columbine, a spokesman Ronson Capital Partners, declined to comment. A Derwent spokeswoman declined to comment.

Ronson is a private-equity firm created by Heron International Chief Executive Officer Gerald Ronson. Knight Frank LLP, a London-based broker, advised on the sale.

To contact the reporter on this story: Chris Spillane in London at cspillane3@bloomberg.net.

To contact the editor responsible for this story: Andrew Blackman at ablackman@bloomberg.net.

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