Lothbury Investment Management Limited, on behalf of Lothbury Property Trust, has completed the conversion of the upper floors of 31 James Street in London’s Covent Garden to residential occupation.
The three apartments are expected to generate considerable interest from potential tenants. Planning consent and works have all been delivered during lockdown.
Mark O’Mullane, Director and Fund Manager at Lothbury Investment Management, said: “The Fund has a number of holdings in Covent Garden. It is one of the most sought-after locations in London with an exceptional, established retail offer, complemented by a continuously changing and exciting leisure offer.”
The assets form part of Lothbury’s active development portfolio, designed to create further sources of income and capital return. Initiatives involve refurbishing or reconfiguring existing assets in the core portfolio, as well as developing new sites and buildings.
Mark O’Mullane added: “These conversions to residential increase the building activity and add value to the upper parts of the building. In addition, planning consent has been secured to convert the upper parts of 30 – 27 James Street into residential and office use which will be implemented over time. This will help provide diversity to the income received from this asset and will deliver an exceptionally prime mixed-use asset.”
This is the website of Lothbury Investment Management Limited of 1 Angel Lane, London, EC4R 3AB, United Kingdom, a company registered in England with registered number 04185370. Lothbury Investment Management Limited (or “LIM”) is authorised and regulated by the Financial Conduct Authority in the United Kingdom.
Lothbury Investment Management Limited is the manager of the Lothbury Property Trust ("LPT") and the Lothbury Global Feeder LP ("LGF") (together, the “Funds”). LPT is a sub-fund of the Lothbury Global Institutional Funds, which is regulated by the Central Bank of Ireland. LGF was established as a limited partnership in Jersey under the Limited Partnerships (Jersey) Law 1994 through the filing of a declaration of limited partnership. The Funds are alternative investment funds (“AIFs”) for the purposes of the Alternative Investment Fund Managers Directive (2011/61/EU) (the “Directive”). LIM has been appointed and acts as alternative investment fund manager (“AIFM”) in respect of the AIFs. For these purposes, LIM is authorised and regulated in the United Kingdom by the Financial Conduct Authority for the purposes of managing unauthorised AIFs (and for various other activities). The Funds are also unregulated collective investment schemes for the purposes of the United Kingdom Financial Services and Markets Act 2000 (the “Act”).
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