Belgravia flats buy is Qatari family affair

Posted by JR-Capital in Press

By Joanna Bourke Estates Gazette- | Residential | 07-06-2014



A Qatari family has bought 12 luxury flats in a Belgravia block lured by an expected 25% hike in residential values in the area.


JR Capital, on behalf of the family, bought the flats for £20m at 55 Ebury Street, SW1, from Epsilon Real Estate Partners.


Epsilon teamed up with Boultbee and Aurum Real Estate to buy 47 flats from oil giant Dutch Shell in 2011 for £50m.


The flats were used by Shell to house staff.


Epsilon has since managed a refurbishment and sales programme of the homes.


The Qatari family will hold their 12 flats for the medium-to-long term as part of a growing UK residential and commercial portfolio.


John Collier-Wright, founder and managing director at JR Capital said: “the purchase equates to a little less than £2,000 per sq ft on average, but the apartments will benefit from the likely continued increase in values in this part of SW1 due to the Land Securities regeneration of Victoria and on the back of a number of key developments nearby.


“By the end of the year residential values could rise to £2,500 per sq ft.”


Savills advised the vendor; the buyer was not represented.


To see the original article click here Estates Gazette 07-06-2014


10 Jun 2014