BPS London and Purestone acquire Derwent West End office for £32.6m

BPS London and Purestone Capital launched their value-add investment platform with this acquisition of a sub-£40 million West End office asset. The building comprises 28,300 sq ft of office space across six floors and four retail units at street level, with current annual income of £1.7 million. The acquisition was made at £755 per sq ft, reflecting a value-add pricing basis for the planned refurbishment. Rishi Khurana, principal at Purestone Capital, and Mahir Vachani, director at BPS London Developments, are leading the platform. Derwent London, a major London-focused REIT, sold the asset as part of capital recycling into its larger development projects at Holden House W1 and Greencoat & Gordon House SW1. Not publicly disclosed. Contracts were exchanged shortly after exclusivity was agreed and the deal is expected to close in June 2026.