12 Aug 2021
A multi-disciplinary Levy Real Estate team have advised on the £20 million unconditional acquisition of a 1-acre development site in Ealing Broadway, centred around Sandringham Mews.
The plot comprises 14 retail and leisure units, vacant offices, residential flats, and a 61 space surface car park, across 15 different titles held by 7 different companies. The existing accommodation totalled 58,000 sq ft with a rent roll £627,00 pa.
The three upper floors of offices benefit from Permitted Development Rights to convert them into 42 apartments, whilst the site has a mixed-used allocation in the LB Ealing Local Plan.
Levy Real Estate provided buy-side acquisition, retail asset management, and leasing advice to the buyer, a new entrant into the emerging Coliving sector, and backed by a major private equity firm. Keystone Law were legal advisers.
Montagu Evans, Bray Fox Smith and Memery Crystal acted for the vendor, a private family trust.
Similar land opportunities are urgently required for Coliving and please contact Will Grant for further details.