BT Group: sells London global headquarters

(CercleFinance.com) - BT said it would sell its global headquarters building in London for 209.
5 million pounds (about 230 million euros) to European real estate private equity firm Orion Capital Managers.

The deal includes an initial leaseback agreement of 30 months during which time the British telecom giant will move its headquarters to a new London location.

BT expects to announce details of its new headquarters shortly.

The sale of the 300,000 square feet office building is part of the operator's previously announced business transformation programme, BT said.

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