Savills Residential Development Land have successfully disposed of B&M at 593 – 613 Old Kent Road, for in excess of £10m on behalf of the Charities Property Fund.
Maggie McQuaid from the Charities Property Fund at Savills IM commented: “We are delighted with the result of this transaction. The Fund owned the asset for almost 20 years and strategically asset managed to unlock the true development potential of the site which is an excellent outcome for all of our investors.”
Andrew Cox, Director Savills Land team added: “We are delighted with the outcome of the sale on behalf of the Charities Property Fund. This shows that appetite remains strong for unconsented residential development opportunities across the capital. This is particularly evident in locations such as the Old Kent Road, which will undergo significant regeneration to deliver new homes where Londoners can afford to buy”.
The purchaser’s identity is confidential.