Mayfair's "largest speculative development for a generation" sold.

Qatar’s Barwa Real Estate Q.S.C have agreed to pay Land Securities £250 million for the site, located at 453/493 Oxford Street London W1. Construction of a 28,800 square metre (310,000 square foot) retail, office and residential development on the site is underway. Known as Park House, the development is expected to be completed towards the end of 2012. Land Securities will continue to act as the Development Manager for the project.