Stratton House, 5 Stratton Street, W1

The Grade II listed Stratton House was acquired on behalf of WELPUT in 2005 for £85 million.

Grafton Advisors successfully obtained planning permission and then vacant possession of the office space in 2007 for a total ‘cut and carve’ redevelopment behind a retained façade, with the existing retail tenants remaining in occupation throughout. The works of £40 million, delivered 5% below budget, included providing for a central core, extending out through the rear and infilling lightwells.

The landmark building was delivered in 2010 and comprised 90,000 sq ft Grade A offices and a 12,000 sq ft penthouse, above the existing restaurant and retail space.

Stratton House achieved top Mayfair rents at the time and was sold in Q2 2012 to Sirosa for over £160 million, with the One Stratton Street penthouse selling to a private buyer for an undisclosed sum but representing over £4,000 per square foot at the time.