William Pears Group and LaSalle Investment Management (LaSalle) have announced the purchase of the Notting Hill Estate from Land Securities and Delancey.
The Notting Hill Estate is situated along Notting Hill Gate and Kensington Church Street in West London and is comprised primarily of prime retail shops and restaurants along with office accommodation, a cinema and car parking spaces.
Jonathan Rose, Property Director at William Pears Group said, "It is very rare that you have the opportunity to purchase an estate of 4.5 acres in such a salubrious part of London. There are a number of development, refurbishment and asset management opportunities on the estate which we will exploit. We look forward to working with LaSalle Investment Management."
Amy Aznar, Head of Special Situations at LaSalle Investment Management said, "This investment fits with our strategy of investing in high quality assets in superior locations that offer interesting potential upside through active asset management."
CWM advised the William Pears group and Lewis and Partners advised LaSalle Investment Management.
Source: Citigate Dewe Rogerson