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BP sells Sunbury office building for 360 million pounds - industry sources
September 29, 2016 / 2:44 PM / a year ago

BP sells Sunbury office building for 360 million pounds - industry sources

LONDON (Reuters) - BP has sold its biggest office building in Britain to a local council for an estimated 360 million pounds, according to industry sources, and will remain in the premises as a tenant.

The logo of BP is on display at a petrol station in Moscow, Russia, July 4, 2016. REUTERS/Sergei Karpukhi/File photo

Spelthorne Borough Council, west of London, said in a statement it had purchased the Sunbury-on-Thames facility from the British oil and gas giant as a way to boost revenue streams. It did not state the price it paid.

Under the terms of the agreement, BP will remain as a tenant at the Sunbury site, where it employs around 3,000 people, leasing back the offices for a minimum period of 20 years.

A BP spokesman confirmed the sale but declined to comment on the price. The site houses BP’s global business as well as its research and development business.

Reporting by Ron Bousso; Editing by Alexandra Hudson

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