31st October 2016

Thrings advises investor on multi-million pound Mayfair property acquisition

The freehold interest of the eight-storey Nightingale House – situated at 65 Curzon Street in London’s West End – has been sold by real estate investment management firm, DTZ Investors, to a Jersey-based company under private overseas ownership.

The freehold interest of the eight-storey Nightingale House – situated at 65 Curzon Street in London’s West End – has been sold by real estate investment management firm, DTZ Investors, to a Jersey-based company under private overseas ownership.

The owners of the property were seeking offers in excess of £80 million.

The 40,250 sq ft dual-fronted property is currently used as office space, and includes the opportunity for a comprehensive office refurbishment or redevelopment.

Planning consent has also been secured for the demolition and redevelopment of the premises to create 32 private residential apartments, retail and restaurant space and underground parking, designed by architects Pilbrow & Partners.

Views of neighbouring Green Park and Berkeley Square, as well as its proximity Victoria, Paddington, Waterloo and Charing Cross train stations, make the premises one of Mayfair’s premier commercial and residential addresses.

The acquisition was led by Thrings’ London-based commercial property partner, Alison Jarvis, and solicitors Anna Hirst, Philip Milsom and Sarah Sheppard, who dealt with the non-finance parts of the purchase, including settling transactional documentation, due diligence and client reporting.

Due diligence on construction documents was carried out by Natalia Sokolov, while fellow Bristol-based solicitor Rosalyn Trotman advised on planning and Community Infrastructure Levy issues.

The buyer was represented by property consultants, Allsop. Property agents Savills and Colliers International acted for DTZ Investors.


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