Almacantar bought Centre Point out of administration for £120 million in April this year and earlier this week sold a 25% share of the West End building to Frogmore. Frogmore will join Almacantar in a joint venture to redevelop the building.
Centre Point is currently used as a mixed-use office, retail and residential complex. It comprises 243,628 square feet in total and is situated opposite Tottenham Court Road underground station in Central London.
The chief executive of Almacantar Mike Hussey, who originally bought the building, has said that he is planning to convert Centre Point into high-end residential apartments for the first time in the building's 46 year history.
In the next few weeks he hopes to open discussions with Camden Council about the future options for the grade 2 listed skyscraper.
Hussey has said that no firm plans have been drawn up yet and that any design or change of use would have to be subject to consultation with the Council. However, it is thought that the building is a perfect prospect for conversion to residential units.
The 34 storey Centre Point tower has 4000 square feet floorplates with no columns or obstructions, which means that the building would lend itself well to being converted into a number of different sized apartments.
