Leading London property developer Linton Group has announced the acquisition of two properties at 9-11 Wellesley Road, Croydon. The purchase is a joint venture between Linton Group and Henika Group, creating a newly formed partnership between the two developers. The purchase is the first in a string of prospective acquisitions for the partnership, which will primarily focus on commercial sites with asset management potential in London and the South East. The site has been acquired as part of Linton Group’s new commercial strategy arm. It presents various options for asset managing the commercial buildings, along with medium to long-term redevelopment potential.
Located in the heart of Croydon’s regeneration area, the property comprises of two freehold office buildings with a size of approximately 60,000 sq ft. The developers will begin a light refurbishment of number 11 shortly and will be looking for tenants for the building later this year.
Wellesley Road is situated at the centre of Croydon’s extensive £5.25bn redevelopment programme, which seeks to change perceptions of the area by turning it into one of London’s cultural centres. A £30m refurbishment of Fairfield Hall, Croydon’s premier concert venue, is at the forefront of this new cultural offering, alongside commercial and infrastructure developments.
The Wellesley Road site is surrounded by and immediately adjacent to the plan’s centrepiece – a £1.5bn retail and leisure complex by Westfield and Hammerson which will see Croydon’s two main shopping centres transformed into eight new hotels, more than 2m sq ft of Grade A office space and 8,000 new homes. Complete with enviable transport links to London, Gatwick Airport and the South Coast, the borough if fast becoming an attractive location for ambitious new businesses and homebuyers.
Linton Group is a boutique developer and investor based in Belgravia. Linton Group is a boutique developer and investor based in Belgravia. The company has moved from developing single units to multi-unit, boutique developments and has an ambitious expansion plan with £375m GDV in their development pipeline, working with both private and corporate investors to drive the delivery of its portfolio. Since conception, the company has delivered projects totalling over £150 million, with past and current projects in areas including Chelsea, South Kensington, Paddington, Dalston, St John’s Wood and Hampstead.
Gary Linton, Founder & Managing Director of Linton Group, commented: “The acquisition of the Wellesley Road site is a fantastic opportunity to get involved in Croydon’s far-reaching regeneration programme. We are expecting big things from the borough and fully believe in its potential as one of London’s emerging commercial and residential hot-spots. This is our first joint venture with Henika Group and we are looking forward to further projects working with the team”
Chris Reid, Founder of Henika Group, added: “We are really excited to be working with Linton Group on this development, and are excited about the prospect of developing our relationship with the company in the future. Wellesley Road presents an interesting investment opportunity for us and is testament to our expanded focus on areas outside of traditional prime central London”