020 REAL ESTATE


AS THE BOUNDARIES BETWEEN COMMERCIAL AND RESIDENTIAL PROPERTY CONTINUE TO BLUR, WE TAKE A LOOK AT WHAT’S HAPPENING IN THE CENTRAL LONDON PROPERTY MARKET.


P30-33 NEWS


º INDIAN INVESTORS BUY ICONIC MAYFAIR BUILDING


º £75M FOR PRIME MARYLEBONE RESIDENTIAL SITE


º GOLDEN SQUARE SHINES º NEW HQ FOR ARMANI º FULL HOUSE FOR EPIC


º MEYER BERGMAN BUYS WATERSTONE’S


º CLARKSONS DOCK AT ST KATHARINE


º CBREGI HAS CRUSH ON COVENT GARDEN


º HELICAL BAR HEADS FOR HANOVER SQUARE


P34 RESEARCH COMMENT


A UNIQUE PERSPECTIVE ON THE OFFICE-TO-RESIDENTIAL CONVERSION TREND IN CENTRAL LONDON


P35 THE MARKET: OFFICE AGENCY


P36 THE MARKET: INVESTMENT AGENCY


P37 THE MARKET: LEASE ADVISORY & ASSET MANAGEMENT


30 020 ISSUE 3 Q4 2014


INDIAN INVESTORS BUY ICONIC MAYFAIR BUILDING


As H2SO was agreeing its acquisition by Colliers International, it advised on the £155m sale of one of the best-known and most iconic buildings in London’s Mayfair.


The leading Indian real estate developer, Indiabulls Real Estate has bought 22 Hanover Square W1 for £155m. The 87,444 sq ft building has been purchased from Scottish Widows Investment Partnership (now part of Aberdeen Asset Management) which put the building up for sale in April through H2SO.


Sameer Gehlaut, Chairman of Indiabulls Group commented: “The building’s location in prime Mayfair adjoining Bond Street is truly exceptional and Hanover Square will become arguably London’s ‘best connected’ square when the new Bond Street Crossrail station opens in 2018. The building has huge potential for redevelopment.”


One of the Bond Street stations entrances will be on the north-west corner of the square and just 50 metres from 22 Hanover Square.


John Olney, the new Co-Head of Colliers International’s Central London Investment Team, commented: “Freehold assets of this quality and scale are rare in Mayfair, and there was a very high level of investor interest in the building. Four parties were selected from the first round of bidding to participate in the final round. Indiabulls Real Estate emerged as the highest bidder in a closely contested bid process.”


Indiabulls Real Estate is part of the £2bn Indiabulls Group and is one of the largest real estate companies in India with development projects spread across high-end offices, commercial complexes and premium residential developments with over 24 million sq ft of projects under construction.


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