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Taylor Wimpey buys Lambeth Road site for 30 million

A development site opposite Lambeth Palace that changed hands for around £15 million less than two years ago has been sold to Taylor Wimpey for more than £30 million.

Taylor Wimpey buys Lambeth Road site for 30 million

In 2013 the Royal Pharmaceutical Society sold its purpose-built headquarters at the corner of Lambeth Road and Lambeth High Street to Real Estate Resolutions for around 15 million.

Last November Lambeth councillors approved plans to redevelop the site with 55 luxury homes and 14 affordable flats.

Now the development – known as 'Palace View' – has been bought by Taylor Wimpey for more than 30 million.

Matt Sharman from Levy Real Estate, which advised RER on the sale, said: "There was tremendous interest in the site.

"RER have designed a fabulous scheme with unspoilt views of Lambeth Palace, The Houses of Parliament, the London Eye and the Shard.

"It provides a great opportunity to develop a landmark building in an area where values continue to rise".

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