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SIAHAF acquires majority of the retail property of Queensway

Wednesday, January 8, 2014 London’s Queensway is to be transformed from a run-down neighbourhood to a sparkling new retail experience, following the acquisition by SIAHAF of Whiteleys and the majority of the street. Read More
SIAHAF acquires majority of the retail property of Queensway

SIAHAF acquires majority of the retail property of Queensway

Wednesday, January 8, 2014

“Queensway has been in decline since the 1960s but under our plan, we will return it to its Edwardian heyday with top quality retail and residential making it one of the capital’s most sought after areas.”

Johnny Sandelson, SIAHAF Co-Founder.

 

Following SIAHAF’S acquisition of Whiteley’s and the majority of Queensway, the street is set to be transformed its current run-down state into a sparkling new retail experience.

This recent purchase by SIAHAF has created an eight acre private estate which, when redeveloped, shall rival Marylebone High Street and Covent Garden as a popular retail destination.

The deal was carried out over an intense nine-month period and incorporated the purchase of some 500 individual titles. The centrepiece of the aquistion is the iconic Whiteley’s shopping centre, founded in 1911 Whiteley’s is London’s first department store and helped raise the reputation of Queensway as one of the great shopping thoroughfares of London. Meyer Bergman have acquired a controlling interest in Whiteley’s and working alongside SIAHAF shall restore Whiteley’s to its former glory.

In addition to Whiteleys, SIAHAF initiated the accumulation of the majority of Queensway. The street is considered at the hub of its surrounding area, as it links Wesbourne Grove with Bayswater Road and Hyde Park. In its acquisition, SIAHAF has also procured Queens Ice and Bowl, London’s oldest existing ice rink, as well as surrounding buildings and properties.

The development will take six to ten years and will involve close liaison with Westminster City Council who have already expressed support for the ambitious scheme, including the upgrading of the public roadway.

The scale of the acquisitions has taken the property industry by surprise with few believing it possible to create a substantial private estate behind closed doors.

One commentator described the move as “potentially the deal of the decade.”

Siahaf was assisted by Dixon Jones, Arhitects, Savills and twentyretail.

Restoration project begins as SIAHAF acquires Somerset Place

Sunday, December 15, 2013 One of Bath’s most beautiful Georgian crescents has been acquired by SIAHAF and returned to its former glory as part of a £60 million restoration project. Read More
Restoration project begins as SIAHAF acquires Somerset Place

Restoration project begins as SIAHAF acquires Somerset Place

Sunday, December 15, 2013

One of Bath’s most beautiful Georgian crescents has been acquired by SIAHAF and returned to its former glory as part of a £60 million restoration project. Somerset Place was originally constructed between 1790 and 1820 but was partially destroyed during the World War II blitz.

Just a short walk from the heart of Bath, Somerset Place is one of the city’s quintet of classic Georgian crescents: a parade of majestic Grade I listed properties on its own quiet road, and part of the reason for Bath’s status as a UNESCO World Heritage Site.

SIAHAF has transformed Somerset Place. Behind its fully restored façade are new maisonettes and lateral apartments, and complete crescent houses. Revived, rejuvenated and rich with original features, each awaits a new owner and a bold new lease of life.

SIAHAF worked under the guidance of ORMS architects and internationally renowned architect, Paul Davis. Paul has been involved in a number of significant projects across South East Asia such as the Grosvenor Estates, the first residential development in Asia to ever receive an MIPIM Award.

Shuif Hussain, Brunei-based SIAHAF Sponsor, announced:

“This is a fantastic opportunity for the Fund to foster Asia’s traditional ties to the UK.  Somerset Place is one of only five Georgian Crescent’s in Bath. It is one of the UK’s most iconic and recognisable properties, which made it a very attractive investment opportunity for us and our Hong Kong backers.”

“The international standing of Bath as a World Heritage City, and its strategic location between London and Bristol make it understandable that Bath is one of the most sought-after locations in the UK. The value of this acquisition for our fund simply cannot be overstated.”

SIAHAF has specifically sought to invest in British real estate, leveraging its Anglo-Asian ties. Throughout its existence, SIAHAF has remained committed to the high-quality refurbishment of historic British assets, owing to the founders’ deep appreciation for historic buildings. The acquisition of Somerset Place was largely backed by Hong Kong investors. The investors expressed a particular affinity for the building’s esteemed culture and heritage.