Christian Candy’s CPC Group has lost out in the bidding for the coveted US Navy site in Grosvenor Square to an unknown private consortium

CPC Group and Grosvenor bid for the former US Navy headquartes at 20 Grosvenor Square.

A statement from Cushman & Wakefield, the adviser to the US State Department, this evening said: ‘Following a global marketing exercise and bids from 38 parties the US State Department has successfully exchanged contracts for the sale of the long leasehold interest in 20 Grosvenor Square, the former US Naval Headquarter premises.’

‘The purchaser is a private consortium who specialises in residential development and the proposals for the building include high end luxury apartments.’

The price paid for the 100,000 sq ft building next to the US Embassy is believed to be around £230m.