Residential landlord Lexadon Property Group has bought a site in Clapham Old Town for £22m from Lambeth Council.
The Rectory Gardens scheme consists of 26 Victorian terraced houses, three ground floor retail units and a development site with space for several plots.
Lexadon Property Group was set up by property developer Jerry Knight in 1980 and bought its first property in 1982. It owns a number of building and sites around Clapham and Brixton, which it retains for the rental market.
Rectory Gardens was put up for sale with full vacant possession through BNP Paribas Residential, with potential for both refurbishment and redevelopment.
The scheme sits within the Clapham Conservation Area and the council were seeking bids that proposed sensitive refurbishment of the existing buildings, though extensions were allowed, as was new build on the development plot.
Sarah Knight, property manager at Lexadon, says the site will be an exciting addition that will complement Lexadon’s existing portfolio.
The company aims to start works on the site immediately.
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