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© 2026 KKCG. All rights reserved
© 2026 KKCG. All rights reserved
KKCG Real Estate Group has completed the £291m acquisition of 1 St James’s Square, the landmark West End office building currently occupied by BP as its London headquarters. The acquisition supports the developer-investor’s strategy to build a portfolio of prime office assets in central London. KKCG Real Estate Group intends to bring forward the consented Foster + Partners-designed scheme, delivering 120,943 sq ft net of prime office space once BP vacates in April 2028.
KKCG Real Estate Group has completed the acquisition of 1 St James’s Square, the landmark West End office building currently occupied by BP as its London headquarters. KKCG Real Estate Group is the real estate arm of international investment and innovation group KKCG.
The developer-investor has acquired the freehold property from Lifestyle International Holdings for £291m, in a transaction that represents a major step in its strategy to build a portfolio of prime office assets in central London. Acquisition financing for the transaction was provided by LBBW/Berlin Hyp and Aareal Bank.
1 St James’s Square occupies a prominent 0.54-acre freehold site on one of London’s most prestigious garden squares and represents a rare opportunity to acquire a major freehold asset in the heart of the West End.
BP is expected to vacate the building in April 2028, after which KKCG Real Estate Group intends to deliver the existing planning permission for the site.
KKCG Real Estate Group has selected YardNine as its development partner for the project.
The Foster + Partners-designed scheme will transform 1 St James’s Square into 120,943 sq ft net of prime office space, including 6,684 sq ft of outdoor terracing across three floors. The retrofit-led redevelopment will retain the building’s existing frame, preserving as much embodied carbon as possible, while replacing the façade, adding two new storeys and a new roof terrace that will overlook the square. The scheme will increase the building’s floor area by 17% and deliver a best-in-class workplace designed to meet the needs of leading occupiers in one of London’s most sought-after markets. It is targeting market-leading sustainability and wellbeing credentials, including EPC A, BREEAM Outstanding, NABERS 5.5* and WELL Platinum.
“1 St James's Square is an exceptional asset and a rare opportunity to acquire one of London's most prestigious office buildings. Combining significant scale with an unrivalled West End location, it represents one of the capital's finest business addresses. This acquisition marks an important milestone for KKCG Real Estate Group as we continue to build a focused, well-capitalised platform investing in prime central London real estate. Our ambition is to own, develop and manage outstanding office buildings. Beyond acquisitions, we aim to create value through development in locations where quality, scarcity and long-term demand support enduring value. Our investment approach is patient, disciplined and long term. We understand how workplace expectations are evolving and are committed to creating exceptional environments that meet the needs of the world's leading occupiers. Backed by the strength of KKCG, we have the capital, expertise and conviction to invest through market cycles and deliver lasting value."
"Our strength lies in combining the experience and investment philosophy of KKCG Real Estate Group with the deep local expertise of our London team. Together, we have the capabilities to unlock the full potential of exceptional assets in the best locations and create sustainable value over the long term. We are highly selective in where we invest. Every international opportunity is assessed with the same discipline and long-term perspective that underpins our overall approach to real estate development and investment.”
1 St James’s Square demonstrates KKCG Real Estate Group’s growing presence in the West End and its focus on building a high-quality central London office portfolio. The group combines KKCG’s long-term capital with local market expertise, active asset management and development capability to create long-term value from prime assets in London’s best locations.
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