020 REAL ESTATE
£75M FOR PRIME MARYLEBONE RESIDENTIAL SITE
Advised by Colliers International, Scottish Widows Investment Partnership (now part of Aberdeen Asset Management) has sold a prime development site in London’s Marylebone to specialist luxury homes developer, the Royalton Group, for £75m.
Formerly the home of BBC London at 35 Marylebone High Street W1, the 56,624 sq ft property has planning consent for a redevelopment comprising 19 apartments and five townhouses.
The Marylebone Gardens development will be the second major project in central London for the Royalton Group which has an established track record of creating luxurious homes in prime locations in the south east of England through its Royalton and Art Estates brands.
Royalton Group CEO, Ken Parker commented: “In 2013, Marylebone emerged as the top-performing central London residential location with house prices rising by 17.4% during the year. This was testament to the current huge demand for high quality residential in the area.
“Marylebone Gardens is unique, situated in the heart of one the most desirable areas in central London. We are going to create a new landmark address which will bear the hallmarks of Royalton’s commitment to quality and detail.”
For more on the development of London offices into residential, see p34.
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