Notting Hill property purchase announced

Office design news from Morgan Lovell

Published on 13-10-2010

LaSalle Investment Management and William Pears have purchased a portfolio of properties covering 4.5 acres in Notting Hill.

The pair paid £131 million to Land Securities and Delancey for the rights to the properties, which include office, retail and residential buildings, as well as a cinema and other amenities.

"There are a number of development, refurbishment and asset management opportunities on the estate which we will exploit," commented Jonathan Rose, property director at private landlord William Pears.

He added that "it is very rare" to have the opportunity to purchase properties "in such a salubrious part of London".

Elsewhere in the capital, Rockspring Property Investment Managers has completed the purchase of a site in Uxbridge where it plans to develop up to 80,000 sq ft of new office space.

The work is scheduled to get underway early next year and is due to be finished by 2014.

Posted by Adrian Norman