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General News
11/3/2009 2:38 PM ET
(RTTNews) -
The U.S. State Department has agreed to sell its embassy building in London to the state-owned Qatari Diar Real Estate Investment Co., the embassy announced Tuesday.
It is understood that the move is line with the U.S. government decision to relocate the embassy from central London's Mayfair district to a new site in Wandsworth, south of the River Thames.
The embassy said that it will continue to operate from the current building in London's Grosvenor Square until the construction of the new building is completed in 2016 or 2017. The work on the new building is expected to start by 2012.
Though the embassy did not mention the amount involved in the deal, it is widely believed that the protected status of the building has reduced the sale price. The building was recently given listed status on the request of architectural guardian English Heritage, meaning its design cannot be altered.
The embassy, however, said that it hopes the proceeds from the sale will be enough to fund the construction of the new building in Wandsworth.
The shifting of the embassy to its new location would mark the end of the 200-year-old U.S. association with London's Grosvenor Square. The U.S. presence in the historic and exclusive neighborhood of Mayfair near Hyde Park dates back to the late 18th century, when John Adams, who later became U.S. president, was the first U.S. envoy to England.
by RTT Staff Writer
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