Grosvenor Fund Management has bought a strip of retail assets at 42-60 Kensington High Street, W8, from Singaporean company Lum Chang.
The deal, understood to be agreed at around £50m, was made on behalf of the Urban Retail V fund, which was launched in October 2014.
The asset provides 88,000 sq ft of retail, office and residential space. Grosvenor has bought the 51,000 sq ft shop element, let to tenants including Zara and Miss Sixty.
Giles Wintle, Grosvenor Fund Management’s regional director for Europe, said: “Our strategy is to create and manage places in cities in which people want to live, work, visit and relax. Kensington High Street fits perfectly with this and we look forward to leveraging our expertise to add value for all stakeholders and generate long-term growth for our investors.”
Knight Frank acted for the vendor; JLL represented the buyer.
