The Howard de Walden Estate (HdWE) has completed the acquisitions of three developments at its Harley Street Health District in London for a combined £50m.
The acquisitions recycle capital from £45m of disposals by HdWE
The estate has bought the long leaseholds of 85 Harley Street and 18 Wimpole Mews, totalling 8,225 sq ft; 37 Wimpole Street and 13-15 Wimpole Mews, totalling 18,638 sq ft; and 64 Wimpole Street, totalling 22,261 sq ft.
HdWE said the acquisitions are earmarked for a blend of healthcare, office and residential uses, to complement existing facilities through active asset management.
The business said the strategic acquisitions underscore its confidence in the area as a healthcare hub.
HdWE has sold £45m of assets in recent months as part of an ongoing strategy to recycle capital into developments with strong long-term growth and rental potential.
David McArthur, head of investment at HdWE, said: “These strategic acquisitions complement the enduring strength of our well-located healthcare and mixed-use assets across Harley Street Health District and Marylebone Village.
“Our long-term approach means we are committed to acquiring quality assets where we see clear value add potential and scope for future growth. At the same time, our disposal programme allows us to recycle capital from non-core assets and optimise the portfolio to maintain a strong balance sheet, with minimal borrowing.
“This is part of our ongoing approach of managing the estate as a dynamic, modern portfolio , while also taking advantage of our areas of sector expertise.”
Last week, HdWE let No 1 Harley Street to healthcare investment company 10M Healthcare to create a £100m surgery centre for the district.
Please visit:
Our Sponsor