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London, 25th January 2013 – Christies, the world famous fine arts auction house has sold its 2.7 acre site in Nine Elms, Wandsworth, London to Clowes Developments (UK) Ltd. The safe storage and warehousing facility has been leased back to the site for a minimum of two years and does not have planning permission but forms part of the master planned VNEB Opportunity Area.
The site was marketed as ‘The Heart of Nine Elms’, focussing on its central position within the Vauxhall Nine Elms Battersea Opportunity Area and is immediately adjacent to the site of the new American Embassy, which is anticipated to open in July 2017. The future for the Christies site is unknown, but its re-development is likely to be residential led thereby contributing towards the whole-scale regeneration which overall will deliver up to 16,000 new homes and 25,000 jobs.
Commenting on the disposal, Will Grant - Residential Director at Jones Lang LaSalle, said: “Whilst there has been considerable activity in the Nine Elms area, we believe that this is the first unconditional site sale since the downturn. It’s a very exciting time for all stakeholders in the area, not least the government’s announcement on financing the Northern Line Extension.”
Jones Lang LaSalle and Angermann Goddard Loyd acted for Christies.
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