Middle Eastern investor swoops on former college block for flats conversion

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The Evening Standard understands the property at 6 Castle Lane near Victoria station is being sold to a Middle Eastern investor for around £26 million.

Westminster Kingsway College sold the block to Land Securities in 2012 and reinvested it into another of its nearby properties where alumni who studied there included TV chefs Jamie Oliver and Ainsley Harriott.

It was bought as part of the real estate firm’s wider plans to spruce up Victoria, where it is investing £2 billion on revamping it with new shops, homes and offices.

There has been a school building on the site since the late 19th century although the current structure was only built in 1931.

 

Property agents Strutt & Parker and Tuckerman were appointed to sell it late last year.

Since acquiring the site, the current owner has got planning permission in place to redevelop it into 3 townhouses and 28 flats.

Land Securities declined to comment.

Source Article from http://www.standard.co.uk/business/business-news/middle-eastern-investor-swoops-on-former-college-block-for-flats-conversion-10247227.html

May 13, 2015 |
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