Latest commercial property news from Lambert Smith Hampton

Grosvenor House, Drury Lane

LSH launches prime Covent Garden freehold investment sale


Commercial property consultancy Lambert Smith Hampton has been appointed as sole agent to sell Grosvenor House, on London’s Drury Lane, on behalf of the Network Housing Group.

The landmark early 20th century, 169-bedroom property – located in the heart of Covent Garden – is currently used as student accommodation on a lease to the world-renowned London School of Economics and Political Science.

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Tapping into the buoyant student housing market

Grosvenor House offers an unprecedented opportunity to tap into Central London’s buoyant student accommodation market, with an exceptional covenant and guaranteed annual RPI rental increases.

The supply of student accommodation in the capital has not kept pace with demand, particularly in Central London. Grosvenor House is ideally located to benefit from these market dynamics.

Best located student property in London

Ezra Nahome, Chief Executive, said: “Student accommodation is currently in high demand and Grosvenor House offers a rare opportunity to buy into one of the most attractive assets in the sector.

“Grosvenor House has all the attributes that investors look for: it’s one of the best located student accommodation properties in Central London – a market that is experiencing strong demand but is supply constrained – and it’s secured by the strong covenant of the LSE.

“On top of this, Grosvenor House also offers the opportunity to unlock longer term returns as a luxury residential or hotel conversion, subject to planning consent.

“We expect to see significant interest from overseas investors and UK institutions.”

Vicky Savage, Group Director, Network Housing Group said: “The market is now right for us to dispose of the asset in order to support the funding of our residential ambitions to grow stock by 1,000 homes a year for a wide range of housing types. We are delighted to be working with Lambert Smith Hampton on this disposal.”

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Ezra Nahome

020 7198 2222

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