Luxury London property developer Gracie Group has agreed a deal to acquire the £180m GDV Stanmore Gardens residential-led development opportunity in Stanmore, London, from Notting Hill Genesis.
Located immediately north of Stanmore Broadway, the 2.58-acre freehold site comprises Anmer Lodger, additional land to the north and Stanmore car park to the south.
Planning consent was previously secured for residential and retail uses on the site and Gracie Group said that positive pre-application discussions with the London Borough of Harrow and Greater London Authority supported the delivery of an enhanced mixed-use development.
Gennaro D’Alo, development director at Gracie Group, said: “Stanmore Gardens represents an exceptional opportunity to deliver a transformative residential-led development that will enhance the surrounding area. With our robust land fund and a £550m portfolio already under management, this acquisition underlines our ambition to invest in places with long-term potential and strong community value.”
Jonathan Allen, senior director at CBRE, which advised Gracie Group on the deal, said: “Stanmore Gardens is a significant town centre site with potential for regeneration. Its location, transport connectivity and established planning context make it a prime opportunity for a residential-led scheme of real quality.”
