Royalton buys prime London resi site for €90m

Residential developer Royalton Group has bought a £75 mln (€90 mln) asset in London’s Marylebone from Scottish Widows Investment Partnership (SWIP).

The 5,200 m2 site at 35 Marylebone High Street was the former home of BBC London. Royalton develops homes in the £4 mln to £50 mln (€5 mln to €60 mln) bracket.

‘In 2013, Marylebone emerged as the top-performing central London residential location with house prices rising by 17.4% during the year. This was testament to the current huge demand for high quality residential in the area,’ said Royalton Group CEO Ken Parker.

SWIP, which is now owned by Aberdeen Asset Management, was advised on both the original purchase and sale of the property by H2SO and Forsters.