14th Dec 2015 07:42
LONDON (Alliance News) - Property developer CLS Holdings PLC on Monday said it has completed the sale of the leasehold interest on a car park in Miles Street in Vauxhall in south London for GBP24.8 million.
It has sold the property to Urbanrest, a central London student accommodation developer and operator.
The site has planning consent for a 454-room, 30-storey student building as part of CLS's Vauxhall Square development scheme.
"We are delighted to have concluded this transaction with such a well-respected student operator, and look forward to our vision for Vauxhall Square beginning to become a reality. Urbanest will bring excitement to the area and further enhance a vibrant community feeling in Vauxhall," said CLS Executive Chairman Sten Mortstedt.
By Sam Unsted; [email protected]; @SamUAtAlliance
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