London property company, Anthology, has acquired a 1.75 acre site on Dugard Way in Lambeth with the commitment to support renowned, The Cinema Museum, existing residents of the Grade II listed Master’s House situated at the Woodlands site.
Following a competitive bidding process, Anthology has completed the acquisition of the site from South London and Maudsley NHS Foundation Trust, as part of the company’s growing investment into building homes across zones 2-5. This move by Anthology is part of the business’ strategy for the future; the four-year-old developer will seek to add further strategic land sites and explore joint ventures to ensure a robust long-term London portfolio.
The Woodlands site is Anthology’s sixth site acquisition in London and was purchased for £15.5m, backed by funds managed by Oaktree Capital Management, L.P. (“Oaktree”). Anthology has current developments underway in Deptford, Hoxton, Wembley and Tottenham Hale.
Adam Gaymer, Executive Director at Anthology said:
“Anthology is delighted to have acquired a fantastic site from South London and Maudsley National Health Service Foundation Trust (SLAM), which is located in the Borough of Lambeth on the edge of Elephant and Castle. The 1.75-acre site is occupied by a number of existing buildings, one of which is Master’s House, a Grade II Listed building, home to The Cinema Museum. We recognise that this space is highly regarded by the local community and we are keen to work with The Cinema Museum to ensure their long-term existence.
“Similar to The Cinema Museum’s belief of paying homage to history, legacy is also at the heart of Anthology’s ethos. It’s important that our developments blend within existing communities and the heritage always remains central to our projects. This is demonstrated across all our Anthology developments that we are creating in London.
“We look forward to working in partnership with the Board of Trustees of the Cinema Museum to ensure the successful development of Woodlands and The Master House site.”
Trust Chief Executive Dr Matthew Patrick said:
“The sale of the site to Anthology is a positive outcome which will support the sustainability of the local NHS by releasing investment for front line mental health services at a time when public sector finances are stretched. It also supports the future of the Cinema Museum and its important collection.
“Throughout the sale process we have encouraged all bidders to engage in dialogue with the Cinema Museum in order to understand their concerns and needs in an authentic way. The successful company was not the highest bid monetary bid offered, but met our requirement to offer fair, market-tested value to the NHS, in addition to demonstrating a firm commitment towards preserving the Cinema Museum’s heritage.”
Savills acted as selling agents for South London and Maudsley NHS Foundation Trust. Andrew Cox, Savills development director said:
“This is a premium site in a zone one location. We saw good interest from national housebuilders, international investors as well as London student and residential developers. Safeguarding the Cinema Museum was a top priority for our client and we are delighted that Anthology has already started a dialogue to this end.”