Acting on behalf of Even Group, a private property investment company, Colliers International’s Residential Development and Hotels Agency divisions have acted as Joint Sole agents alongside Knight Frank to sell Berkeley Park Serviced Apartments, a 21,000 sq ft development by Heathrow airport, to Hillingdon Borough Council for £9.25m.
The complex, which comprises of 50 suites situated around a private courtyard area, is situated approximately 0.2 miles from London Heathrow Airport’s perimeter and approximately 14 miles from central London. The council bought the development, subject to a planning consent for homeless shelter use (Sui Generis use), and intend on partially converting it internally to better suit its needs.
Andrew White, Residential Development Director at Colliers International commented: "This is the first time that Hillingdon Borough Council has ever bought a building for shelter use of this size. We understand that there are currently 200 families in the vicinity, living in overflow hotels and other inadequate locations, so there is clearly a shortfall of council owned accommodation that is directly available for this purpose."
Nick Lebetkin of Even Group said: "We are delighted with the sale of Berkeley Apartments and pleased that the building will be used to benefit Hillingdon Borough council’s shortfall in homeless accommodation. Based on the council’s demand for this type of accommodation, this marks a record lot size for this type of use for them - we hope that the acquisition solves the ongoing problem to a degree. It is no secret that increased rents for private accommodation have put a squeeze on Londoners in recent years. Colliers International was able to effectively source a purchaser and Even Group look forward to securing similar deals that benefit local communities with them in future."