KKCG Real Estate Group acquires London office building for £291 million

KKCG Real Estate Group, owned by Czech billionaire Karol Komárek, has acquired the One St James’s Square office building in London for approximately £291 million (roughly 8.2 billion CZK). The property was purchased from the Hong Kong-based Lifestyle International Holdings.

The building currently serves as the headquarters for BP, which is expected to remain in the premises until April 2028. Following the departure of the tenant, KKCG plans to execute a major redevelopment project. The renovation aims to increase the floor area by 17 percent, totaling approximately 11,200 square meters, through the addition of two floors and a new roof terrace overlooking the square.

To reduce the environmental impact and carbon footprint of the project, the group intends to preserve the building’s existing load-bearing structure. The redevelopment will also include a new facade. This acquisition marks KKCG’s first development project in the United Kingdom and represents a strategic expansion into the competitive London premium office market.