The Mansion Group has bought a £5.5m Vauxhall development site for a 92-apartment student block.
The site, formerly owned by auctioneer Christies, and home to the auction house for more than 30 years, is adjacent to the Vauxhall transport interchange.
It was sold by Warwick-based Catesby. The building will be complete in 2013.
Knight Frank advised Catesby. The purchaser was unrepresented.
James Pullan, head of student property at Knight Frank’s student property team, said: “The sale represents the first in a wave of acquisitions being made in the fourth quarter of 2011. New money is circling the oven-ready opportunities, and the sentiment of investor appetite is very positive.”
joanna.bourke@estatesgazette.com
