Red Vale Property Development has bought a 44,000 sq ft office block next to Wembley Stadium, north-west London, for £9.9m and is planning a £90m development.
The joint venture between Park Vale Capital and Real Estate Capital plans to build a 220-flat scheme with shops at ground level on the site of Mahatma Gandhi House.
CZWG Architects will design the project, with plans expected to be submitted by the end of the summer.
The block was purchased from a syndicate of international investors.
Real Estate Capital chief executive Damian Flood said: “Having invested in opening an office in central London, it was key for us to secure an opportunity within 12 months of the office opening. We jointly benefit by having a PRS management platform which was acquired as part of the same transaction.
“We look forward to completing a very successful development project with our partners and are actively seeking similar opportunities across the Greater London area.”
