Global charitable foundation the Wellcome Trust has bought a rare residential opportunity from the London Diocesan Fund for £10.5m.
13a Cranley Gardens in Kensington, SW7, was designed by Alfred Williams in 1870, who also worked on the Harvey Nichols building in Knightsbridge, SW1, and 54 Parliament Street in Westminster, SW1.
The six-storey freehold building of four flats has potential for refurbishment. It extends to 16,600 sq ft.
Nick Pleydell-Bouverie, partner at Knight Frank, which advised the Wellcome Trust, said: “13a Cranley Gardens presented a rare opportunity for the trust to expand its estate in South Kensington, by acquiring the freehold interest.”
Ed Warrick, from the property and infrastructure team at The Wellcome Trust, said: “13a Cranley Gardens is a wonderful addition to The South Kensington Estate, which includes some of the most attractive residential and commercial property in central London.”
The Wellcome Trust has an investment asset base of c£18bn, of which just over £2bn was in property as of September 2014. The majority is invested in the residential sector.
