Gracie Group has exchanged on Stanmore Gardens, a £180m gross development value (GDV) residential-led development in Stanmore town centre, North West London.
The site was acquired from Notting Hill Genesis, with CBRE acting as real estate advisor.
This takes Gracie Group’s London portfolio to £550m across residential and mixed-use projects.
The 2.58 acre freehold site sits north of Stanmore Broadway and includes Anmer Lodge and its surrounding grounds, as well as Stanmore car park to the south.
The land is marked in the Harrow Local Plan for residential use and already has planning consent for residential and retail.
Positive talks with the London Borough of Harrow and Greater London Authority have supported plans for an enhanced mixed-use scheme.
Gennaro D’Alo, development director at Gracie Group, said: “Stanmore Gardens represents an exceptional opportunity to deliver a transformative residential-led development that will enhance the surrounding area.
“With our robust land fund and a £550 million portfolio already under management, this acquisition underlines our ambition to invest in places with long-term potential and strong community value.”
Jonathan Allen, senior director at CBRE, said: “Stanmore Gardens is a significant town centre site with potential for regeneration.
“Its location, transport connectivity and established planning context make it a prime opportunity for a residential-led scheme of real quality.”
