Acquired before the renaissance of the historic Marylebone Village, this Georgian building had fallen in to disrepair.
Recognising the potential for growth and stability in the Central London residential investment market, Vigo Group applied significant capital to the development of this arm of the business in 2007. With a long term investment horizon, investments were focused on areas we identified as high value, but undervalued relative to the developing ‘super prime’ markets of Knightsbridge and Mayfair.
The historic Marylebone Village, borders Mayfair and both Regents Park and Hyde Park. It is centred around the fashionable Marylebone High Street, In the mid-2000s, this was already an attractive place to live but in need of significant investment. Strategically the right area, we secured this handsome but dilapidated Georgian building and quickly brought the residential space back to its former glory, attracting landmark residential rents for the area.
With an untested retail market on the street, few major retailers would consider locating in the building. Our active asset management and focus on nurturing and supporting the growth of new businesses ensured the successful letting of this important section of the building to an exciting start up architectural practice. Creating activity and style at the front of the building, this gave the development a high quality image. The retail space is now the flagship store for exciting accessories brand, Alvaro Gonzalez, owned by the former Design Director of Jimmy Choo.
Crucially, the building continues to attract record rents and the location has seen capital values more than treble since acquisition.