BT sells London HQ

LONDON: BT Group has agreed the sale of its global headquarters, BT Centre, to the Orion European Real Estate Fund V, managed by Orion Capital Managers, for £209.55 million.

The deal includes an initial leaseback agreement of 30 months during which time BT will move its headquarters to a new London location.

The sale of the 300,000 sq ft office building is part of BT’s previously announced wide-ranging business transformation programme. BT expects to announce details of its new headquarters shortly.

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