China’s Dalian Wanda is paying £470m to acquire the Nine Elms Square development site from a St. Modwen and VINCI joint venture.
Dalian Wanda already owns the One Nine Elms site in the same area.
The purchase comes despite slowing demand for luxury properties.
The Acton site has consent for 429 student rooms and 95 affordable homes
The company’s international production arm will move in before the 2026/2027 season kicks off
The portfolio comprises a total of 227 bedrooms
CBRE’s Sarah Livingston has heralded the move as a ‘landmark deal for the sector’
