10:03 AM, 7th November 2012, About 11 years ago
London based property company PPR Estates (PPR), has today confirmed the acquisition of 11,000 square foot of commercial office space in Osiers Road, Wandsworth, SW18 which will be converted into luxury, riverside homes.
Jon Caplan, Director of PPR Estates, commented:
“We are pleased to confirm this exciting acquisition in the Riverside development, between Putney and Wandsworth. This £6 million project will create several large and luxurious homes with gyms and cinema rooms that will add something different to this exciting riverside location. Working with a renowned architect to secure the necessary planning approvals, this project will play to our strengths of hands-on asset management and efficient development delivery of a number of unique homes.
“The acquisition in Osiers Road is next to the Thames, Wandsworth Park and close to Putney High Street with its variety of shops and bars. Transport links are also excellent with trains to the City taking just 30 minutes. We see this part of Wandsworth, by the river, as somewhat under-developed currently and particularly lacking in large, character homes that people want to live in. This is therefore a strategically exciting London investment location.
“PPR is actively looking to acquire other properties in London with substantial further cash funds immediately available. We have a particular interest and expertise in asset managing vacant commercial properties – be they office, retail, or leisure – and residential buildings, pub conversions and development projects. We also asset manage mixed-use schemes – commercial, residential, and part-vacant sites – plus short-office leases with development or extension potential, and airspace or roof space development opportunities.”
PPR Estates owns over 200 properties and manages over £60m worth of property assets as landlords.
Neil Patterson, a Partner in Property118.com said “It is excellent to see landlord/developers of this size becoming more active in the market. In recent years the large High Street banks have shied away from funding new developments of this nature. However, this has seen the re-birth of niche lenders entering the market and developers with a track record and sensible funding requirements are now able to access competitive funding with the assistance of a good commercial finance broker. For details of the facilities currently on offer please click here.