SIR ASTON WEBB’S great Edwardian Baroque office-building-cum-triumphal-gateway, Admiralty Arch, will be offered up for a long leasehold by HM Government. The Grade-I listed building, constructed between 1910 and 1912, is one of the best-known in London for finishing the long view down the Mall from Buckingham Palace and connecting it to Trafalgar Square beyond. Admiralty Arch features 147,300 square feet across basement, lower ground, ground, and five upper floors.
Savills have been appointed as the sole exclusive agent to seek interest in the long leasehold. “The Government’s objective is to maximise the overall value to the Exchequer from the re-use of Admiralty Arch,” the Savills press release noted, “and to balance this with the need to respect and protect the heritage of the building, now and in the future, enable the potential for public access and ensure awareness of, and be prepared to respond to, potential security implications.”
Our prediction: oil money from abroad will turn it into a hotel. Boring, I know!