Doughty Hanson & Co, Invesco Real Estate (IRE) and Urban & Civic have sold a mixed-use development in the Victoria district of London.

Doughty Hanson & Co, Invesco Real Estate (IRE) and Urban & Civic have sold a mixed-use development in the Victoria district of London.

The name of the buyer and the investment volume were not disclosed.

Doughty Hanson and Urban & Civic worked together to create high-quality office and residential space on a former House of Fraser office site at 1-5 Howick Place in London SW1.

The sale marks the first exit from a portfolio that has been asset managed by IRE on behalf of Doughty Hanson since April 2014. Private equity firm Doughty Hanson is withdrawing from the real estate sector.

Kevin Grundy, head of European value-add strategies at IRE, said: 'The success of Howick Place is a testament to the importance of hands-on, local asset management. Since joining IRE last year from Doughty Hanson, a number of us have continued to manage this development since its inception and we are particularly pleased to have achieved this final milestone. Howick Place is an excellent case study for IRE’s pan-European strategy to deliver returns by transforming underperforming properties into core assets through intensive management.'