Pursuits
British Land Wins Approval for Luxury London Apartments
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British Land Co. won local-government approval to build luxury apartments near The Ritz hotel in London’s Mayfair district as foreign demand boosts home prices in the city center.
British Land, the U.K.’s second-largest real estate investment trust, can demolish properties at 82-84 Piccadilly and develop four buildings that will also have offices and a club, the Westminster borough council decided late yesterday in a 6-0 vote. The company can sell 36 apartments on the open market, while 11 units will be affordable housing.