Royal London Asset Management Property has sold a £63m (€73.3m) mixed-use property in Central London to an unnamed private investor.
Royal London Asset Management Property has said the sale of 149-151 Oxford Street, a mixed-use property with retail, office, and residential components, will allow capital to be reinvested into developing and acquiring high-quality assets.
Moira Hamilton, senior asset manager at Royal London Asset Management Property, said: “This sale provides a clear example of our commitment to actively manage our portfolio in line with our long-term vision and the overall performance of our portfolio.
“The asset has performed well to date, and its sale allows us to reinvest the capital into opportunities that better align with our strategy of owning best-in-class next-generation retail assets with strong office components, in the UK’s most compelling locations.
“As long-term owners of other properties in the area, we look forward to seeing the purchaser’s plans for bringing new footfall to this iconic destination.”
Royal London Asset Management Property was represented by Savills and Colliers, while Cushman & Wakefield represented the buyer.
Graham Harding, associate, London capital markets at Cushman & Wakefield, said: “This acquisition represents a rare opportunity to reposition a modern mixed-use asset in one of London’s most dynamic submarkets.
“With its prominent retail frontage, proximity to major transport infrastructure, and potential for high-quality use, the site is exceptionally well-placed to benefit from the ongoing regeneration of Oxford Street East.”
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