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News Release

London

Jones Lang LaSalle dispose of Ashley House on behalf of The Ministry of Justice

To Taylor Wimpey Central London


London 21st February 2014 - Following the open market informal tender, Jones Lang LaSalle has disposed of Ashley House on behalf of The Ministry of Justice to Taylor Wimpey Central London.

The building housed a number of Ministry of Justice occupiers. The current 1980s-built Ashley House fronts the western side of Monck Street, the rear of which looks towards the Channel 4 production studio site.
 
This is TWCL’s third landmark purchase in Westminster and represents another desirable addition to their expanding central London portfolio where it already has significant land interests.
 
The central London-focused boutique development arm of national house builder Taylor Wimpey is likely to deliver a mixed-use site of approximately 50 residential units and an additional 3,000 sq. ft. of ground floor commercial space, with first completions anticipated to commence in 2016.
  
In a superbly located area of the capital, Ashley House is only a short distance from The Thames, Westminster Abbey and the Houses of Parliament, as well as royal parks and Buckingham Palace. It is also near to various restaurants, department stores, boutique retailers and the private clubs of Mayfair. 
 
Ingrid Skinner, managing director, Taylor Wimpey Central London, says: “The
Borough of Westminster forms a key part of our business strategy to develop in central locations that have the ultimate combination of established desirability as well as potential for growth. We already have significant land interests in this part of the capital and are pleased to continue to provide high-specification residential accommodation here.
 
“With the sought-after views of many of the capital’s landmarks that we envisage the scheme will offer, Ashley House is an outstanding addition to our portfolio and we expect demand for both the residential and on site commercial units to be extremely high.”

  

Peter Day, Associate Director at Jones Lang LaSalle who orchestrated the deal on behalf of the MoJ said: “The sale of Ashley House in an exceptionally short time period highlights the desirability of prime central London product with residential development potential. Ashley House is a fantastic development opportunity and interest in the site was exceptional. The site will make a strong addition to the thriving Taylor Wimpey Central London portfolio.”