Housebuilder Taylor Wimpey is acquiring the 2.5-hectare Phoenix Place and Calthorpe Street plots from the Royal Mail's Mount Pleasant development site in central London for £190m ($245m), more than six times their asset value. The deal will see a new office tower built on the site, which has been vacant since it was sold to property developer John Laing last year.
Housebuilder Taylor Wimpey is acquiring the 2.5-hectare Phoenix Place and Calthorpe Street plots from the Royal Mail's Mount Pleasant development site in central London for £190m ($245m), more than six times their asset value. Taylor Wimpey said the deal was a "compelling, multi-year development opportunity" and would also include £3.5m-worth of parking provision to Royal Mail.