West End Team completes c.£200million sale of The Kensington Building & The Kensington Arcade

Allsop’s West End Investment team has completed on the sale of 127 Kensington High Street & The Kensington Arcade, W8 on behalf of Columbia Threadneedle Investments to AshbyCapital.

The deal is the largest deal to transact in the West End so far in Q1 of this year.

127 Kensington High Street is a freehold development opportunity situated immediately adjacent to High Street Kensington London Underground station of which Kensington Arcade is the entrance to.

It is reported that construction to the scheme is due to start this spring and the building will comprise 128,663 sq. ft. of offices and shops when complete in 2021. Consisting of 92,148 sq. ft. of offices over five storeys with the remaining top three floors featuring 13,200 sq.ft of landscaped terraces. A flagship retail unit (pre-let to Boots) and five smaller retail units set within a new shopping arcade will be on the ground and basement.

The Kensington Arcade (held long leasehold from TFL) comprises of 16 retail / restaurant units (configured as 12), with an additional three floors of offices.