Bidders line up for Moxon Street site

According to the Co-Star website

“The protracted sale of Moxon Street car park, the most sought after development opportunity in Marylebone, is nearing a conclusion with a shortlist of bidders having been drawn up.

Westminster City Council has compiled a list of five heavyweight investors who are vying for the chance to buy the development site, which could accommodate a 190,000 sq ft, £100m residential scheme.

CIT, British Land, Ridgefield Capital, Howard De Walden Estate, and St George all feature on the shortlist of prospective buyers.

Jones Lang LaSalle and Lambert Smith Hampton were instructed in April 2011 to sell the site, which could house flats that could achieve values of at least £2,000 per sq ft. No guide price was set, but is thought that the car park could fetch around £70m.

Westminster Council compulsorily purchased the site from the Howard de Walden Estate in 1966 in order to develop a new school.

Howard de Walden owns around 80% of the space that surrounds the site and has long made clear its desire to buy the site. If it was successful in its bid to buy the Moxon Street car park, Howard de Walden plans to create an open square at the northern end, to provide a permanent home for the farmers’ market. The square would then be surrounded by speciality food retailers, complimentary to The Ginger Pig and La Fromagerie.”

This entry was posted in Housing, Marylebone, Moxon Street, Regeneration and tagged , , , . Bookmark the permalink.

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