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News Release

London

Jones Lang LaSalle Appointed by Royal Borough of Kensington and Chelsea 

To market major strategic land holdings


London, 21st September 2011 - Jones Lang LaSalle’s newly created Development Consulting team has been appointed by the Royal Borough of Kensington and Chelsea to market two major strategic land holdings for redevelopment.

Andrew Ludiman, Director of Jones Lang LaSalle’s Development Consulting team, said: “We look forward to building our relationship with the Council and delivering their objectives to achieve maximum income return for these development opportunities. The nature of this instruction and the Council’s objectives require a multi-disciplined approach, which our team alongside our residential and capital markets finance teams can provide.
 
Will Grant, Director in Jones Lang LaSalle’s Residential division, said: “We are expecting a considerable amount of interest for the sites from a wide range of parties. The envisaged disposal structures will encourage the private rented sector into the Prime Central London residential market for the first time.”

The strategic sites include:

• 19-27 Young Street, W8 5EH – the largest of the sites (c.0.44 acre) currently operating as a car park with office accommodation.  It is expected to attract a range of uses including, high-end residential, hotels, serviced apartments and potentially commercial space.

• Car Park at Hortensia Road, SW10 0PQ – An under-utilised car park (c.0.3 acre) adjoining the Carlyle building and EnglishNationalBalletSchool with frontage onto Kings Road.

Carl Ainley, Senior Commercial Property and Development Surveyor for the Royal Borough of Kensington and Chelsea, added: “We are very pleased to have Jones Lang LaSalle’s on board.  We look forward to working with them to deliver these opportunities to the market.”