AshbyCapital Secures $142M in Financing for London Property
- Mar 13, 2019
AshbyCapital has secured $142 million in acquisition and renovation financing for 127 Kensington High Street, a 127,000-square-foot mixed-use project in the borough of Kensington and Chelsea in London.
The property, a Brutalist-style building constructed in the 1970s, will be fully renovated and transformed into one of the premiere office and retail assets in the area. Included in the acquisition is an adjacent retail arcade that serves as the entrance to the High Street Kensington underground station.
The property is situated between the neighborhoods of Holland Park and Kensington Gardens and is located near local businesses like Equinox, Whole Foods Market and other local amenities. An HFF debt placement team representing the borrower was led by Managing Director Claudio Sgobba and Director Andrew Hornblower.
“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,” said Charles Lawrence, investment director at AshbyCapital, in prepared remarks. “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.”
According to a JLL report released last month, London was the number one city for global real estate investment in 2018.
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