Strutt & Parker’s West End team has advised Standard Life on the exchange of contracts on the freehold sale of 30 Old Burlington Street, London, W1.

The 83,000 sq ft office and retail building has been purchased in a joint venture between UK based Native Land and a pair of Far Eastern backers, who are now currently working up plans to redevelop the existing office building as a luxury apartment block with world class amenities. The original guide price for the asset was £95m, and the final scheme is expected to be worth up to £300m upon completion.