The American Embassy building in Grosvenor Square, Mayfair has officially gone to market.
The move follows the United States Department of State’s decision to acquire a site in the Nine Elms Opportunity Area in Battersea, South London.
The US Department of State is offering a long leasehold on the 270,000 sq ft, which has a footprint of approximately 40,250 sq ft .
The lease, granted by The Grosvenor Estate in 1954, is for a term of 999 years with the rent fixed at one peppercorn a year for the whole term.
The disposal of the Embassy is dependent upon Congressional approval and getting planning permissions from the London Borough of Wandsworth for the Nine Elms Site.
Zoe Bignell, head of West End development at Cushman & Wakefield, which is advising the US Department of State on the sale, said: ‘This is a remarkable opportunity to acquire a unique site in an internationally renowned square in London’s most prestigious area.
‘We are expecting interest from around the world and will be seeking a purchaser with the experience, expertise, financial capability and commitment to maximise the potential of the site.’
Cushman & Wakefield is the sole agent. Expressions of interest will be sought towards the end of November.