Cerberus and Rockwell JV grabs London residential site
A joint venture of Rockwell and US-headquartered alternative investor Cerberus has acquired London’s Hurlingham Retail Park, a waterfront site which has planning consent for a mixed use redevelopment.
The site at 362-364 Wandsworth Bridge Road has been bought from Royal London Asset Management and is adjacent to Wandsworth Bridge on the North Bank of the River Thames, and is within the South Fulham regeneration area.
The 3.2 acre site, will provide 269 apartments as well as 24,000 sq ft of gardens and 31,242 sq ft of commercial space for food, beverage, leisure and retail tenants. Planning consent was granted for the project in 2020.
“This is a rare opportunity to bring a high-quality, mixed-use property to a vibrant area in London,” said Cerberus head of European Real Estate Daniel Dejanovic.
Drew Watkins, RLAM Portfolio fund manager, said: “The sale follows a long period of creative and challenging work to obtain planning permission for this prime riverside development. This project is aligned to our active management strategy and the capital will be redeployed in ongoing development opportunities elsewhere in London.”
CBRE acted as selling agent.