British Land has acquired Paddington Central in London for £210 million.

The firm is currently working with Hopkins Architects to develop a new plan for the site.

Phase 1 of the development is currently underway at 4 Kingdom Street and is expected to be completed in 2017.

The site, from the Employees Provident Fund, Malaysia, contains 200,000 square feet for freehold office space, arranged over 9 floors.

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Tim Roberts, Head of Offices for British Land, said: "Paddington Central is full and we are progressing our vision to create a more attractive and engaging environment which better meets the changing needs of our customers. We have started on extensive improvement works to the public realm and are also now on site at 4 Kingdom Street. One Sheldon Square is a strategic piece of the campus which helps us to achieve our vision."

(LM/CD)