Sutton skyscraper Quadrant House sold to mystery buyer for £45m

Quadrant House

Quadrant House

First published in News
Last updated
Sutton Guardian: Photograph of the Author by , Chief Reporter

One of Sutton's biggest buildings has been sold for a massive £45million to a mystery Middle Eastern buyer.

Quadrant House, home to the Sutton Guardian, has been bought by a Middle Eastern property buyer.

But there are no plans to change the lease for many of the businesses operating from it.

The 19-storey building with attached six storey building is home to a range of businesses but was put up for sale last year.

The new owner paid £45.3 million for the skyscraper, built in 1980, and is a client of chartered surveyors Hanover Green.

But a spokesman for Hanover Green said the client had asked not to be identified.

Reed Business Information (RBI) rents the towers on an agreement not due to expire until 2024.

The lease will be honoured following the purchase meaning the sale should have no effect on RBI or the businesses that sub-let from it.

Jonathan Webb of Hanover Green said: "With over 10 years unexpired to a high-quality tenant, adjacent to Sutton railway station, Quadrant House provides a secure long-term investment at a low capital value of just £230 per sq ft in a London suburb.

"It's a private investor who's bought it from another private investor.

"There are confidentiality rules involved but what I can say is that they are from very different parts of the world."

Quadrant House was built in 1980 and remains Sutton's tallest building.

Originally it was planned to be 26-storeys high but councillors argued this would be too tall and the developer agreed for six-storeys to be removed from the top and placed in an adjoining building.

Subsea7, which occupies several floors in Quadrant House, plans to leave the building after being given planning permission to build its new base on the site of the Brighton Road car park, bought from Sutton Council for £3m last year.

Comments (1)

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12:15am Fri 21 Feb 14

charlesmcg says...

Apart from the fact that the Sutton Guardian is published from Quadrant House, I cant see what the story is here. Every building has an owner and buildings are bought and sold. This building is a big one and thus has sold for a lot of millions. wow! I'm sure there is no mystery here, or secret dealings. Just another commercial transaction. It looks like the new owner has got a good deal!
Apart from the fact that the Sutton Guardian is published from Quadrant House, I cant see what the story is here. Every building has an owner and buildings are bought and sold. This building is a big one and thus has sold for a lot of millions. wow! I'm sure there is no mystery here, or secret dealings. Just another commercial transaction. It looks like the new owner has got a good deal! charlesmcg
  • Score: 1

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