A weekly review of the latest planning and property news from the central London boroughs
Property Week reports Luxembourg-based real estate company Vivion Investments has sold the Holiday inn hotel Bloomsbury for £90 million to Imperial London Assets, The Walduck family’s investment firm.
City of Westminster
EG reports Tishman Speyer is under offer to buy 101 St Martin’s Lane WC2, from Legal & General and PGGM. It is understood the firm will pay c£55m for the 40,000 sq ft building where tenants include Potter Raper, Abercrombie & Kent and Harry’s Grooming.
Property Week has reported that the CC Land founder and chairman, Cheung Chung-kiu is set to but a 45-room mansion in Knightsbridge for more than £200m. Brokered by Beauchamp Estates, the deal will be the largest on record in the UK for a private home purchase and could have a £700m GDV if converted into apartments.
Property Week reports that Sidra Capital is close to buying the Ritz hotel in London from the Barclay Brothers. The Saudi-backed company is reportedly in advanced negotiations to buy the £800m trophy asset for an undisclosed sum, which had been on the market since last year.
Property New reports Housing Secretary Robert Jenerick has given spproval to Richard Desmond’s £1 billion proposals for the Westferry printworks site on the Isle of Dogs. This comes after the planning inspector rejected the scheme for insufficient provision of affordable housing. Westferry Printworks will be turned into more than 1,500 homes, a secondary school, community centre, office space, shops, restaurants and bars.
Property Week reports Aviva Investors is to fund the prestigious new Premier Inn scheme in the Docklands. Aviva will provide £106 million of finance for the mix-use hotel being developed by Rockwell. Rockwell founder Donal Mulryan described it as “a landmark development”, adding: “We are delighted to complete the £106 million transaction with Aviva. This is an excellent template for bringing forward similar high-quality developments in the future.”