London, UK - Canada's High Commissioner to the United Kingdom, Gordon Campbell, today confirmed that legal contracts have been exchanged for the sale of One Grosvenor Square in London, England.

The Canadian High Commission, advised by Savills, confirmed that the property will be acquired by Lodha Group for $530 million (CAD) (£306 million).

The Government of Canada's intention to sell the property, first announced in Canada’s House of Commons in February 2013, is a key step in plans to revitalize Canada House on Trafalgar Square in the heart of London and to consolidate the Canadian High Commission’s diplomatic activity in the UK in one central London location, saving valuable operational dollars.

High Commissioner Campbell said of today's announcement: “There was exceptional interest from international parties for the property on Grosvenor Square. We are looking forward to the move to Canada House on Trafalgar Square, Canada's traditional home in the United Kingdom, in the next year. We thank Lodha Group for their keen interest and welcome this new phase in the project.”

Abhishek Lodha, Managing Director of Lodha Group, said: “The acquisition of this marquee asset overlooking London’s most renowned garden square, in the heart of Mayfair, and in close proximity to Bond Street and Mount Street is a great opportunity for our company.”

Lodha Group was represented by Knight Frank.

To schedule an interview on this topic with Canada’s High Commissioner to the United Kingdom, Gordon Campbell, media representatives may contact:

Canadian High Commission Media Relations Office:
Caroline Mallan Tel: +44 (0)2072586557 or +44 (0)7714061221 caroline.mallan@international.gc.ca

Savills press contact:
Victoria Buchanan, +44 (0)7870999653, vbuchanan@savills.com