The completion of the sale is expected to occur in Autumn 2018 in line with English National Ballet’s planned move with English National Ballet School to London City Island.
The Royal College of Music will use much of Markova House’s 16,000 sq ft space to provide a new home for its leading Research department. The premises will also enable the College to increase its practice rooms and provide two large orchestral and opera rehearsal spaces.
For English National Ballet, the sale marks the next phase of its planned move to London City Island, a new neighbourhood development from Eco World Ballymore. The new facility will include eight large studios for rehearsals and teaching and open spaces that will give the public access to parts of English National Ballet and English National Ballet School’s archives, and encourage engagement with local communities. Lambert Smith Hampton is advising English National Ballet on the move to London City Island having negotiated the deal on behalf of the organisation earlier this year.
Ezra Nahome, CEO of Lambert Smith Hampton, said: “We are proud to have solved the English National Ballet’s property problem.
“English National Ballet asked us to help it to move to a new joint home with English National Ballet School that reflects its position as one of the world’s pre-eminent arts organisations. With some clever thinking and our knowledge of the London market, we found them a new venue in an up-and-coming cultural cluster and enabled them to generate value from their existing premises.”
English National Ballet Executive Director Caroline Thomson said; “Leaving Jay Mews is a big step for us, and we have so enjoyed being a part of the ‘Albertopolis’ cultural estate. We are delighted to have exchanged contracts with the Royal College of Music, ensuring that Markova House remains in the family of arts and culture organisations.