Lumina Real Estate Capital Sells Ladbrooke House In Islington For £25.7 Million

March 27, 2015

Lumina Real Estate Capital has sold Ladbroke House in Islington, North London to Pegasus Life for £25.7 million.

The 93,313 sq ft building is currently let to London Metropolitan University until August 2016 and was sold with a planning application awaiting determination.

The scheme that was submitted for planning allowed for the retention of the existing 1930s façade to Highbury Grove and part of Kelvin Road and would create a new seven-nine storey building, providing 90 residential units alongside circa 4,000 sq ft of office space.

Mark Potts of Lumina Real Estate Capital said: “Although our original intention was to see this project through to a successful completion of the planning and redevelopment process, we received an unsolicited offer which cemented returns in excess of our targets.”

Lumina Real Estate Capital was unrepresented. Hamptons International and Chapman Petrie advised Pegasus.

– ends –

Latest News

Redevco strengthens leadership team with the appointment of Veronica Gallo-Alvarez as Head of Investment Management

June 24, 2024 - 09:55

  New CEO Neil Slater further strengthens Redevco’s leadership team with the appointment of Veronica Gallo-Alvarez as Head of Investment Management. This is the fourth key hire for Redevco in 2[...]

+ Read More

Haslams Score a Touchdown with Newest Hire

June 24, 2024 - 09:49

The largest independent Thames Valley surveying and commercial property firm Haslams Surveyors LLP has announced the appointment Tom Holwell as their newest Commercial Agency Surveyor. “Tom will pla[...]

+ Read More

GCW RECRUITS NEW MEMBER TO OWNER TEAM

June 24, 2024 - 09:39

GCW, the town centre property consultancy, has recruited Jack Suiter to its Owner team. Working with the head of Owner team and GCW Partner, Nick Warr, along with the wider team, Jack will advise lan[...]

+ Read More

CONTACT

CALL US

+44 (0)20 7647 4420

ADDRESS

Wren House, Garden Close Lane, Newbury RG14 6PR