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Investment firm Ashby Capital, established by Peter Ferrari in 2013, is in advanced talks to purchase 127 Kensington High Street and Kensington Arcade in a significant £200 million deal.
As part of the entrance to High Street Kensington tube station, the site — known as the Boots Building — enjoys a prime London location, and is currently leased to 16 retailers and office tenants.
The present owner, fund manager Columbia Threadneedle, obtained consent to carry out significant development in 2017, including the creation of 117,057 sq ft of offices and retail space. Subject to the completion of the deal, construction is due to start in the spring.
Ashby declined to comment, but a spokesman for Columbia Threadneedle says: “We can confirm that we are in discussions regarding a potential sale.”
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.