Chinese developers buy Nestlé Tower in £60m property deal
Nestlé Tower, SEGAS House and St George’s Walk in Croydon town centre have been sold to a Chinese development company in a £60million deal.
Nestle Tower: once Croydon’s tallest building, now under new ownership
Property Week is reporting that R&F Properties has made the move, its first venture into European real estate.
Minerva, who bought the tower for £10million in 2015 from L&G, stand to make a handsome profit on the transfer of the 200,000 sq ft tower, the 250,000 sq ft St George’s Walk and nearby SEGAS House, which has listed building status.
St George’s House, the formal name for the Nestlé Tower, was built in 1964 and was the UK head office for the Swiss food corporation until they quit Croydon five years ago. It has been vacant since, though it does have planning permission for conversion from office use to residential.
And it is in the planning…
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