Blenheim Palace, Johnny Sandelson and Asian Property Fund Redevelop £3.25m Oxfordshire PropertyBy Hotelnewsresource, PRNE
Thursday, October 27, 2011
LONDON, October 28, 2011 -
A fund established to identify attractive returns and off-market opportunities to acquire real estate with significant historic, iconic or culturally important attributes - advised by UK entrepreneur Johnny Sandelson and his Asian-based partner Shuif Hussain - has been used to redevelop a £3.25m Oxfordshire home.
The Blenheim Palace construction arm, Blenheim Estate Contractors Ltd has launched a joint venture with The Iconic Assets Heritage Acquisition Fund to refurbish number 2 Talbot Lodge, into new luxury residential accommodation.
The venture, which was advised by well-known property entrepreneur Johnny Sandelson, further promotes Oxfordshire’s diverse real estate portfolio. The development showcases contemporary specification - advised by interior designer Kati Tschawow - seldom found in properties within the area. The Talbot Lodge venture also demonstrates the international nature of the modern-day real estate industry as the deal involved numerous investors and businesspeople from Brunei.
UK entrepreneur, Johnny Sandelson said:
“We have a huge sense of pride working with Blenheim Palace on such a high-quality refurbishment. Blenheim Palace is not only a World Heritage Site but a considerable landowner in this area. I am confident this will be the first of a series of investments from the Asian property fund into the UK residential real estate market and the beginning of a longer relationship with Blenheim Palace.”
The property, based in Oxford’s prime residential area, was redeveloped by Blenheim Estate Construction and extends to 4,600 square feet, over three floors. Formerly student accommodation, Talbot Lodge was granted planning approval to be divided into three separate dwellings having previously been a single building - two of the three has now been sold and the final is available for sale.
Blenheim Palace Property Director, Roger File said:
“I’m absolutely delighted to be involved in this joint venture to create high quality homes in the UK. The redevelopment of number 2 Talbot Lodge has used the best materials and craftsmanship to maintain the quality that Blenheim Palace hopes to achieve in all ventures it is associated with, this has resulted in the completion of one of the most luxurious properties in Oxford. I hope to be working together on a number of projects in future with Johnny Sandelson and his team.”
Shuif Hussain, The Iconic Assets Heritage Acquisition Fund Manager said:
“We are thrilled to be working with Blenheim Palace on this top quality investment opportunity and look forward to many more exciting investment opportunities in the UK’s commercial real estate sector in future.”
The Talbot Lodge development has 6 bedrooms, 4 bathrooms, a courtyard style garden and off-road parking for two vehicles. The property is now available for occupancy.
Please contact estate agents Savills: +44(0)1865-339-700 or Carter Jonas: +44(0)1865-511-444 for further information.
Tags: Hotelnewsresource, London, October 28, United Kingdom