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News Release

London

Christie’s to sell land holdings in Heart of Nine Elms


Christie’s, the world’s leading art business has appointed Jones Lang LaSalle and Angermann Goddard & Loyd to dispose of their 2.7 acre freehold site located at the heart of the Nine Elms Opportunity Area, part of London’s largest regeneration scheme.

This regeneration zone stretches along the south bank of the River Thames between Lambeth Bridge and Chelsea Bridge and is to become the future home of the US Embassy, a new park, food markets, as well as extensive residential and commercial development.

Owned by Christies since the early 1980’s, the “Heart of Nine Elms” site is the first available freehold site in Nine Elms since the Mayor published his vision for the area. 

Will Grant, Director in the Residential team at Jones Lang LaSalle, commented; “The Nine Elms Opportunity Area is the largest and most exciting development opportunity in Europe, let alone London. The GLA, Wandsworth and Lambeth, together with the private land owners have made significant progress since the opportunity area was identified in 2008. Already the US Embassy has committed to move, there are 1000 dwellings under construction, and critically there is investment in the form of UK and domestic buyers forward committing to purchasing apartments in what will soon become a modern vibrant district in Central London.

"At the epicentre of the Nine Elms, long standing occupier Christie’s has taken the decision to sell their 2.7 acre site. This is the first available freehold development opportunity of a manageable size to come to the market since Berkeley Group acquired Tideway Industrial Estate in 2009, and is located at the very heart of the regeneration zone.”

The warehousing site is earmarked for mixed-use residential with the capacity of up to 500 apartments and mixed use retail space, and is expected to fetch in excess of £40 million. Work on the site is not predicted to start until 2014 with Christies operating in this space until then.