Canada sells London diplomatic mansion for $530 million to Indian developer
OTTAWA – Canada has sold the historic London mansion that houses part of the Canadian High Commission for $530 million to an Indian developer.
The government announced the sale of Macdonald House at One Grosvenor Square in London to the Mumbai-based Lodha Group.
The Harper government announced its intention to sell the downtown property in London’s posh Mayfair district earlier this year.
Canada plans to consolidate its diplomatic activity at another historic property, Canada House on Trafalgar Square in the heart of London.
Foreign Affairs announced its plan to sell off diplomatic residences in March 2012 as part of a $170-million, cost-saving effort.
But analysts have said the plan would hurt Canadian diplomacy as the government seeks to deepen trade.
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