Gerald Ronson is making a property comeback with the acquisition of two London sites and two redevelopments in Spain worth a combined £100m.
The London sites are Maple House, an income-producing investment in Tottenham Court Road, W1, and a development site at 65-72 Strand, WC2.
Maple House is let to Maples and Budgen Stores, which trade from 5,760m2 (62,000 sq ft) of retail space, and to Pearson Professional and the Housing Corporation, which occupy most of the 4,738m2 (51,000 sq ft) of office space. There are also 136 flats on the 0.4ha (1 acre) island site. Depfa and Hypo Bank provided the acquisition finance.
Scottish Amicable, the vendor of the Strand site, will retain a stake in the speculative redevelopment of 5,109m2 (55,000 sq ft) of offices there. United Bank of Kuwait is financing the construction. Richard Ellis acted for Heron, while Strutt & Parker represented Scot Am.
The two Spanish deals include an office and retail building at Paseo de Gracia 56, Barcelona, which will be refurbished. The basement, ground and first floors have already been prelet to Fashion Caf
