Rockwell and Cerberus buy waterfront site in London

Royal London Asset Management, on behalf of the Royal London U.K. Real Estate Fund, has sold Hurlingham Retail Park in London to a joint venture between London-based property developer Rockwell and Cerberus Capital Management.

The CoStar Group reported the sales price to be £300 million (€354 million/$406 million).

Hurlingham Retail Park site is in Fulham, SW6, adjacent to Wandsworth Bridge. The site area extends to 1.3 hectares (3.2 acres). Planning permission was secured for a four- to 12-story mixed-use development, comprising 269 residential apartments, including 45 for affordable use, 32,775 square feet of commercial space and 50,000 square feet of high-quality shared external amenity space (with 24,000 square feet of private residents’ gardens), according to CBRE.