Vinci St Modwen (VSM) – the 50/50 joint venture between Vinci PLC and St Modwen properties PLC – has successfully completed on the £470m sale of its interest in the 10-acre site.
St Modwen revealed in June that VSM had exchanged contracts for the sale to Wanda Commercial Properties (Hong Kong) Co Ltd.
- Overseas investor snaps up £470m Nine Elms site
- Construction start date of Northern Line extension announced
- Contractor appointed for One Nine Elms development
VSM will remain involved in the wider regeneration of the Nine Elms area due to its development agreement with Covent Garden Market Authority.
The Nine Elms Square scheme comprises 12 buildings which will frame the new landscaped linear park.
To the north west of the park, the scheme will range from eight to 29 storeys, while to the south of the park there will be three distinctive towers rising to 54 storeys.
The Nine Elms area is set to benefit from substantial investment, which includes the extension of the Northern line.
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