BP Nears Sale of London Headquarters to Thomas Lau’s Firm
- Lifestyle International has offered $305 million for property
- Brother of billionaire Joseph Lau is company’s chairman
Photographer: Simon Dawson/Bloomberg
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BP Plc is nearing a deal to sell its London headquarters to a firm controlled by Thomas Lau, brother of Hong Kong property billionaire Joseph Lau.
The oil giant is in advanced talks to sell the office building in historic St. James’s Square to a company backed by Lifestyle International Holdings Ltd., according to people with knowledge of the matter. The Hong Kong department store operator has offered about 235 million pounds ($305 million) for the property, said the people, who asked not to be identified because the process is private.