British Land says Matterhorn buys HQ for 50.5 mln stg

LONDON (AFX) – British Land Co PLC said property company Matterhorn Capital has agreed to buy its headquarters in Regent’s Park for 50.5 mln stg.

A statement from the company said Matterhorn intends to invest a further 35 mln stg converting the buildings 2-12 and 20-21 Cornwall Terrace into a collection of exclusive luxury houses.

Mike Gunston, British Land’s Chief Surveyor, said: "We are delighted to have agreed a deal which has delivered a profit to the company on these assets. Our relocation to new, open-plan head offices at York House, Marble Arch, is on track for March next year."