The builder purchased 76 Marsham Street from PFA Pension and plans to convert the property into 60 luxury apartments, a plan which has already gained planning consent from Westminster council.

Alastair Baird, regional managing director, Barratt London said: “This is a great opportunity to consolidate our position in central London and we now have three projects in the Borough of Westminster with a total value of £300m.

“As this is an office conversion we can move very quickly and we will have completed the build and plan to have sold all the apartments at Great Minster East by December 2014.

“The proximity to our Courthouse scheme on Horseferry Road offers a number of advantages during the dual development process.”