Westgate Oxford Alliance, a joint venture between UK REIT Land Securities and the Crown Estate, has acquired a mixed-use asset in Oxford for £47.2 mln (€62.5 mln).
Westgate Oxford Alliance, a joint venture between UK REIT Land Securities and the Crown Estate, has acquired a mixed-use asset in Oxford for £47.2 mln (€62.5 mln).
The city-centre site comprises 40 apartments, a Malmaison hotel and several restaurants and bars. It is located close to the Westgate Oxford shopping centre which is undergoing a £440 mln refurbishment that is due to be completed in the autumn of 2017.
The vendor was the Trevor Osborne Property Group, a Bath-based developer that specialises in historic properties and mixed-use schemes.
Jack Busby, portfolio director at Land Securities, said: ‘Westgate Oxford Alliance is investing heavily in Oxford and is working closely with Oxford City Council and Oxfordshire County Council to unlock the regeneration potential of the city centre.’
