An office site in central London on Marylebone Road has been bought by the University of Westminster for approximately £25 million. 

The sale was facilitated by VanHan, an agency that has formerly dealt with luxury residential properties, with the deal being the first commercial investment sale for the company. The company was involved in £120 million-worth of deals during 2014, including the sale of the Bulgari Hotel Penthouse in Knightbridge, at £39 million. 

The 20,000 square-foot site is located at 29 Marylebone Road, NW1, opposite Madam Tussauds. The university already has as its main address number 35 on the same road, with the campus in the surrounding area. The university has stated that it hopes to use the building to include its New Institute of Advanced Studies and purchased the building as part of its ten-year plan.  

This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.