August 11, 2016
Altum Capital has entered into joint venture agreement with Great Marlborough Estates to redevelop a mixed use scheme in Langham Street, in London’s Fitzrovia.
The £40m project will create 17 private residential apartments, plus a self-contained retail or restaurant unit at ground floor level.
Altum Capital acquired the 16,546 sq ft building, which sits on a prominent corner site at the junction of Langham Street and Great Portland Street, in March. The Grade II listed building has full planning permission and listed building consent for 17 luxury apartments and an A1/A3 unit comprising 3,600 sq ft.
Great Marlborough Estates will be responsible for all development activity and the two partners will work together on marketing and sales.
Scott Nicol of Altum Capital commented: ‘This development is a perfect opportunity for us to work with the team at Great Marlborough Estates whom we have explored a number of projects with previously and who have significant experience in delivering residential developments in central London.”
Grant Lipton of Great Marlborough Estates added: “The apartments will offer contemporary, high specification living spaces, incorporating the property’s elegant historic features. The project is perfect for our first joint venture with Altum.”
Sales Agents are Savills and Knight Frank. The architects are Darling Associates.