Grainger, the largest listed residential landlord in the UK, is selling a Victorian school site in north London to Hertfordshire-based developer Mount Anvil for EUR 22 mln. International broker Savills, which advised Grainger, said the contracts have been completed for the site known as the Barnsbury Complex in London.
Grainger, the largest listed residential landlord in the UK, is selling a Victorian school site in north London to Hertfordshire-based developer Mount Anvil for EUR 22 mln. International broker Savills, which advised Grainger, said the contracts have been completed for the site known as the Barnsbury Complex in London.
The site has planning approval for a £50 mln (EUR 57 mln) development including 95 apartments, of which 80 will be built within the existing Victorian school building.
Darren Arnold of Savills Development Agency & Consultancy, commented: 'The residential development land market is, as everyone knows, extremely challenging at the moment, making it incredibly difficult to secure funding and broker land deals.'
The funding was brokered by David Yeadon of Savills Private Finance. Savills L&P has been retained to sell the completed units.
