ISG has secured a £47 million project to create high-quality commercial office and retail space at 127 Kensington High Street.
ISG will retain part of the existing structure on site, and construct two additional floors to double the current volume of office space on site.
They will also create a new elevation using an attractive pale white brick and Portland stone.
Steven McGee, managing director of ISG’s UK Construction South business, commented: “The redevelopment of 127 Kensington High Street will transform the aesthetic of the existing building and dramatically improve the street-scape at this busy intersection in the Royal Borough of Kensington and Chelsea.
“This complex scheme has been meticulously planned to maximise the potential for the site, whilst reducing impact on the local community, businesses and key transport links.
“The decision to retain, reconfigure and extend, rather than demolish the existing 1970s building, has also significantly reduced the project programme and showcases the benefits of close collaboration between all project stakeholders to innovate and seek the best possible outcomes.”
10/04/2019 08:13 by Buildington
HFF Real Estate Limited has announced the £108 million bilateral acquisition and refurbishment financing of 127 Kensington High Street.
The HFF team worked on behalf of AshbyCapital. The financing was provided by a global investment bank.
The 1970s monolithic brutalist structure at 127 Kensington High Street will be fully transformed into one of the premiere office and retail assets in the area. Included in the acquisition is the adjacent retail arcade, which serves as the entrance to the High Street Kensington underground station.
The HFF debt placement team representing the borrower was led by managing director Claudio Sgobba and director Andrew Hornblower.
Claudio Sgobba commented: “It is always a gratifying result to bring together a new borrower-lender relationship. We are confident that AshbyCapital and the lender are an outstanding fit and will have a longstanding go-forward partnership. It was a pleasure working alongside Charles Lawrence, AshbyCapital’s investment director, to close an attractively priced and flexibly structured facility that is ideally suited for their business plan.”
Andrew Hornblower said: “There is excellent synergy between all parties involved, and we are very pleased with the outcome. It was a competitive lender selection process with flexibility, pricing and surety of execution, all playing a role in the ultimate decision. We very much look forward to watching AshbyCapital lengthen their already impressive London track record of creating special, generational assets.”
Charles Lawrence added: “Prime freehold development opportunities are increasingly rare in central London and we are delighted at the prospect of delivering best-in-class office and retail space to Kensington. This financing validates our enthusiasm for this unique project and frees up further capital for us to deploy as we look onwards to the next opportunities.”
12/03/2019 16:09 by Buildington
Kingdom of Sweets is coming to Kensington High Street!
30/05/2018 12:32 by Buildington
The plans for the renovation and remodelling of 127 Kensington High Street have been approved, reports architect Pilbrow & Partners.
The proposal will transform the architecture, the public realm and internal working environment of the 1970s building. The connectivity to Kensington High Street Underground station will improve through the creation of a new retail arcade, linking to Wrights Lane.
New elevations of pale white brick and Portland stone will replace the current concrete panels. The historic street line on Wrights Lane will be restored.
The proposals keep Boots as the centrepiece of an enhanced retail offer. Office accommodation will be doubled in scale.
Keb Garavito Bruhn, Partner at Pilbrow & Partners, commented: “We sought to deliver an appropriate architectural response to this prominent site on Kensington High Street and thereby improving its overall aesthetic interest and connectivity to the Underground station nearby. We are pleased our vision has been endured by the council.”
23/12/2017 20:56 by Buildington