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Jones Lang LaSalle sell prime London mixed-use opportunity in RBKC to Thorstone Land and Property

London, 23rd October - Acting on behalf of White Knight Laundry Services, the London residential team at Jones Lang LaSalle has sold a 0.63 acre development opportunity located in the Royal Borough of Kensington and Chelsea (RBKC) to Thorstone Land and Property on a unconditional basis for £4.675m.

The site is located in area well-connected for public transport into central London that is showing significant growth as occupiers are attracted to its cosmopolitan and vibrant atmosphere. Recent lettings include Stella McCartney, Tom Dixon Designs and Innocent Drinks.
Following the purchase, Thorstone is currently in discussion with RBKC with a proposal to replace the existing buildings consisting of a former working laundry and houses, with a new state of the art mixed–use scheme. This will provide approximately 100,000 square feet of mixed–use accommodation to include 200 student rooms, a new stand–alone 4,000 square foot retail/showroom unit, together with 35,000 square feet of commercial space to cater for the media and creative industries who are colonising this trendy enclave of Kensington just north of the world–famous Portobello Road and Ladbroke Grove.
Bruno Jaczkowski, Head of Acquisitions in the residential team at Jones Lang LaSalle commented: “The site is no longer capable of catering for the needs of a major laundry provider. The proposed development will be an exciting contribution to the continued regeneration of the immediate area by providing modern commercial space that is enabled by the development of much needed student accommodation”
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