Canada Sells Central London Diplomatic Site for $501 Million
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Canada’s government has agreed to sell its diplomatic property in London’s Mayfair district to closely held Indian real estate developer Lodha Group for C$530 million ($501 million).
Canada will sell 1 Grosvenor Square and consolidate its diplomatic offices into one central London location, Canada House in Trafalgar Square, to save on operating expenses, the Canadian High Commission said in an e-mailed statement. Canada was advised by broker Savills Plc, while Knight Frank LLP represented Lodha, it said.