One of Asia’s main airlines has sold its head office – which also currently houses some of Knight Frank’s London offices - in the West End for £57m to Japanese developer, Mitsui Fudosan.
Japan Airlines International has sold its HQ at Hanover Court Building after ‘a comprehensive study of local real estate market conditions.’
Knight Frank move
The seven floor building in Hanover Square also houses some of Knight Frank’s divisions whilst the firm completes its move to London & Regional’s 55 Baker Street building.
JAL did not disclose where it plans to move, but has intentions to take space elsewhere in the West End for its Europe, Middle East, Africa Region and London offices.
The airline is now planning to focus on its core air transport business by selling off other assets. The sale of Hanover Court Building is expected to complete by March.
Mitsui Fudosan’s UK subsidiary, which is dealing with the sale, is planning to demolish the building and redevelop it.