UK property company London Square has acquired the Belmont development site in Vauxhall, London, for £32 mln (€37 mln) from Alchemi Group.
The location at 12-20 Wyvil Road, SW8, in the London Borough of Lambeth, is currently occupied by a two-storey office block and warehouse.
Alchemi Group secured approval for the mixed-use redevelopment that is part of the Vauxhall/Nine Elms Battersea regeneration zone.
The project will feature three buildings designed by Stiff+Trevillion: a five-story office block, an eight-story affordable housing block with 23 homes, and a 36-story private residence with 255 apartments and two retail units.
Residents of the main tower will enjoy numerous amenities, akin to those found in a luxurious boutique hotel. These include a gym, swimming pool, sauna, changing rooms, a residents' club room, a children's playroom, parking facilities, and expansive landscaped communal gardens spanning over 1,022 m2.
Adam Lawrence, founder and CEO of London Square, said: ‘This is another highly strategic acquisition in the growth of London Square’s presence in Central London. Our scheme at One Linear Place in neighbouring Nine Elms is seeing significant demand and has demonstrated the appeal of the area as regeneration continues to transform the district.’
Tom Moore, senior director at CBRE, who advised the vendor, added: ‘The Belmont site in Vauxhall represented a rare, consented, residential development opportunity of scale close to the US Embassy and Apple’s new UK headquarters. The residential development market has seen renewed activity in 2024 as demonstrated by this transaction.’
The Belmont residential development will be completed in 2025.
