Europa Capital and Addington Capital have completed the acquisition of One Lampton Road in Hounslow from clients of LaSalle Investment Management for over £20 million. The investment is the second acquisition for the London Affordable Residential Platform, which will focus on the creation and conversion of residential accommodation in undersupplied London markets.
The 121,812 sq ft (11,316 sq m) mixed use property provides 72,571 sq ft (6,742 sq m) of office space and 49,241 sq ft (4,574 sq m) of retail space. One Lampton Road is occupied by tenants including TK Maxx, Job Centre and Sri Lankan Airlines, and has permitted development rights for conversion into 115 residential units. The property is located in the heart of the town and within 200 m of Hounslow Central underground station.
Hugo Black, Partner at Europa Capital said, “We are pleased to have made our second acquisition for the London Affordable Residential platform with Addington Capital. This is our 7th joint venture with Addington Capital and supports our continued drive to address the shortfall of housing in the UK. Since 2010, we have also acquired land with potential to deliver up to 8,600 residential units across 12 separate acquisitions.”
Martin Roberts, Principal of Addington Capital said, “We are continually looking for opportunities where we can put our asset management and development expertise into play and this acquisition will allow us to do both. One Lampton Road will complement Addington’s existing PRS portfolio, which we plan to expand further going forward.”
Richard Merryweather, at Savills who advised the purchasers, commented: “We are delighted to have represented Addington and Europa on this acquisition. There are significant asset management opportunities and growth potential in this busy, West London location.’
Gerald Eve acted for the vendor, who were clients of LaSalle Investment Management.
For further information, please contact:
Gordon Simpson/Elizabeth King, Finsbury:+ 44 20 7251 3801
Martin Roberts, Addington Capital:+44 (0)20 7042 9252
Karen Roberts, Addington Press Office:+44 (0) 7917 225383
Richard Merryweather, Savills+44 (0) 20 7409 8838
James Vivian, Savills+44 (0) 20 7409 8731
Rebecca Allen, Savills press office+44 (0) 20 7409 8937
Notes to Editors:
Europa Capital is an established real estate fund management group operating across Europe adding value through risk-based acquisition strategies and active asset management on behalf of its investors.
Since 1995, Europa Capital has collectively raised nine real estate funds and committed to over 124 transactions totalling more than €10.4 billion across 19 European countries.
The Europa Funds benefit from Europa Capital’s established network of partners across Europe who co-invest in acquisitions made by the Europa Funds. These country and joint venture partner relationships in some cases extend back more than 20 years.
Europa Capital is a member of The Rockefeller Group International (“RGI”). RGI is a strategic investor alongside Management. Europa Capital Partners LLP and Europa Capital LLP are authorised and regulated by the Financial Conduct Authority.
Further information can be found at www.europacapital.com.
Addington Capital was set up in 2010 by Martin Roberts and Matthew Allen, as an independent asset management and investment business. Addington has an established platform in the office, retail and residential sectors and acts as an operating partner, working closely with its partners to create value through active asset management. Please visit http://www.addingtoncapital.com.