Norwegian shipping and oil family Smedvig has bought a luxury residential development opposite Le Caprice restaurant in Mayfair.
The family has acquired 11-15 Arlington Street, SW1, from Nama and Newthorn Properties for £20m.
Smedvig, which beat competition from Malaysian and Saudi Arabian investors, has instructed London & Aberdeen Group to develop the site as a £37m scheme comprising seven luxury flats and 15,000 sq ft of offices, which will be for the family’s own occupation.
Savills was the selling agent.
joanna.bourke@estatesgazette.com
