JV Expands Luxury Retail Holdings With New Bond Street Building
A JV between Oxford Properties Group and RLG Real Estate Partners acquired 48-50 New Bond St from clients of Aberdeen Asset Management for £198M. The 158k SF asset was developed by Scottish Widows in 2009 and provides 48k SF of retail across two units, leased to Mulberry and Pinet, together with 109k SF of Grade-A office space, leased to Ralph Lauren, Atomico, Varde Partners, and Urban & Civic.
This is the second acquisition by the JV, according to Europe Real Estate. In 2014 it acquired 130-137 New Bond St. The partnership now controls 230 feet of retail frontage on this section of Bond Street. [ERE]