Delancey is suing Greenland Group over claims that the Chinese developer failed to make a final payment after buying the Ram Brewery in Wandsworth, SW18, two years ago.
According to The Times, Delancey alleged that Greenland had failed to make a final £3.7m payment following their £135.7m deal in 2014.
The investor claimed in its filing that the two companies had agreed Greenland would pay an “overage payment” if Delancey succeeded in increasing planning permission for the site within 10 months of the sale.
However, Greenland said that the planning permission Delancey secured was not what it had originally discussed and would hurt the quality and value of the scheme.
A spokesman for Greenland said it was awaiting a trial, expected to begin in February.
Delancey acquired the Ram Brewery site in 2011 after buying London residential and commercial investor Minerva.
At the time of the sale in 2014, the site had planning permission for 661 homes and 102,300 sq ft of commercial space with a total investment value of up to £600m.
From 2014: Minerva sells Ram Brewery
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