The Thackeray Estate says it will use the £16.25m it received from the sale of a Parsons Green site to fund several London acquisitions nearing completion. The asset manager and developer confirmed it has amassed a £300m war chest to expand its City portfolio.
Its latest disposal, to privately-owned investment business Martin’s Properties, was a 0.3-acre development site in the borough of Hammersmith and Fulham. The Alexander House plot — fronting both Peterborough Road and Peterborough Mews — currently contains a five-floor office building and a single storey workshop unit. There are also two private garages with the remainder of the land used for parking.
A spokesman for Martin’s confirmed it was looking at an office, commercial and residential mix for the plot covering up to 31,000 sq ft.
“We forecast stronger growth in the City of London compared to other Central London sub markets, as the wave of established and start-up retailers and office occupiers move from West to East in the race to secure new Central London sites during this period of exceptional growth,” commented The Thackery Estate’s commercial director, Charles Thompson.
“The exchange of Alexander House has further added to our existing £300 Million acquisition fund and we are already in advanced discussions on further acquisitions to add to our City portfolio.”
First established in 1963 and now led by Brett Palos and Antony Alberti [both correct], The Thackeray Estate is a privately owned property investment company. It has expanded rapidly since the pair’s 2012 takeover by specialising in high-quality commercial, mixed use and residential development projects. The company’s portfolio now includes more than 400,000 sq. ft. of freehold central London property.
Recent months have seen the estate selling off several of its “non core” assets to raise cash for prestige City projects.
In the spring it purchased 23-39 Eastcheap for around £15m from the Canary Wharf Group. Thackeray is spending three times that figure transforming the parade of six mixed-use properties into 35,000 sq ft of Grade A office, retail and leisure space.
Earlier in the year The Thackeray Estate spent a total of £24.5m to take control of three development sites in Battersea, Wandsworth and Southwark.
No related posts found for this post.
