Two offices buildings in Wellesley Road have been bought by Linton Group in a new joint venture with Henika Group.
Linton says the site at 9-11 Wellesley Road in the heart of Croydon’s £5.25billion regeneration programme presents various asset management opportunities as well as medium to long-term redevelopment potential.
The premises at 9 Wellesley Road are occupied by HSBC while 11 is Meridian House with a basement and eight upper floors.
The two freehold office buildings total around 60,000 sq ft and, following an imminent light refurbishment of number 11, will be seeking tenants for the building later in the year.
Gary Linton, founder & managing director of Linton Group, said: “The acquisition of the Wellesley Road site is a fantastic opportunity to get involved in Croydon’s far-reaching regeneration programme.
“We are expecting big things from the borough and fully believe in its potential as one of London’s emerging commercial and residential hot-spots. This is our first joint venture with Henika Group and we are looking forward to further projects working with the team.”
Chris Reid, founder of Henika Group, added: “We are really excited to be working with Linton Group on this development, and are excited about the prospect of developing our relationship with the company in the future.
“Wellesley Road presents an interesting investment opportunity for us and is testament to our expanded focus on areas outside of traditional prime central London.”