Alchemi Group and Angelo Gordon Europe have put a £50m West End development site up for sale.
Knight Frank has been appointed to find a buyer for a 50,870 sq ft redevelopment of 13-19 Leinster Square, W2, which has consent for conversion and extension into 15 homes.
The partners bought the site in 2013 before securing consent for the grade II listed building, which housed the Umi hotel, in 2014.
Leinster Square will comprise 10 flats and five townhouses, all with private terraces and access to leisure facilities.
TateHindle designed the consented scheme, which includes full basement excavation across the seven buildings, and sits adjacent to Alchemi’s redevelopment of 7-12 Leinster Square, currently under construction.
The sale is timed to capitalise on the opening of Crossrail in 2018, along with the regeneration of the nearby Whiteleys shopping centre, W2, and public realm work in Queensway.
Alchemi Group managing director Charlie Baxter said: “The purchase gave us the opportunity to help continue to bring this neglected square and building back to its former glory.
“Potential purchasers will be able to capitalise on our adjacent seven-12 luxury development that will be completed in late 2015 and the planning consent we achieved.”
