London Square has completed the £40.8m acquisition of Westminster Tower on Albert Embankment in London from CLS Holdings.
London Square intends to redevelop the building and create a 17-storey tower featuring a collection of apartments and penthouses.
Planning permission is already in place for a residential redevelopment of the existing office building, including the construction of three additional floors.
Adam Lawrence, chief executive officer at London Square, said: “The completion of the Westminster Tower acquisition enables us to move on with our plans to transform this office site into an outstanding destination, with prime residences and commercial space creating a prestigious new address on Albert Embankment.
“This latest purchase demonstrates our commitment to extending our presence in prime central London as part of the planned growth of the London Square Group to deliver high quality homes across Greater London.”
