Build July (2016)

Build Magazine 5 The team at Ronson Capital Partners has an impressive track record of developing prime residential buildings in Central London, including The Heron in the City and Riverwalk in Westminster. Majority of buyers are domestic owner occupiers Ronson Capital Partners LLP (“RCP”), the real estate investment company, has held a topping-out ceremony to mark the structural completion of Chiltern Place, its prime residential development at 66 Chiltern Street, in the heart of London’s Marylebone Village. Due to be completed in 2017, Chiltern Place will be a collection of 55 one, two, three and four- bedroom apartments and penthouses over 15 storeys, as well as a four-storey townhouse. At the ceremony, the development, which is being built by Mace and has been designed by PLP Architecture, was revealed to be over 60% sold. Interiors of the homes have been designed by Tomasz Starzewski and feature the finest materials, craftsmanship and finishes, from timber and stone floors with underfloor heating to bespoke Italian kitchens and marble bathrooms. Declining US Industrial Vacancy Rates Tied to E-commerce Growth The U.S. industrial vacancy rate dropped again in the second quarter, largely driven by companies building or leasing warehouse space to meet continued strong demand for e-commerce shopping. Industrial vacancy fell to 8.8 percent in the latest quarter, down 20 basis points (bps) from the first quarter. The decline marked the 25th consecutive quarterly drop in available U.S industrial space. The growing trend in e-commerce shopping is expected to continue to fuel demand for warehouse space, which is needed to store inventory for shipping directly to more consumers buying goods online. And the industrial vacancy rate should continue its descent if the latest U.S. Commerce Department report on retail sales is any indication of this trend. In June, retail sales grew at 0.6 percent from the prior month and surpassed most analysts, who expected a modest 0.1 percent gain last month. The retail sales report is generally seen as an important indicator for the direction of the U.S. economy, as consumer demand is a major contributor to stoking the country’s economic engine. According to Chris Roach, President of BBG Valuation, “Plummeting U.S. industrial vacancy rates signify that this sector of the commercial real-estate market is benefitting from increasing acceptance of the e-commerce model, and we anticipate this downward trend in vacancy rates will continue for at least the remainder of this year. We have seen first-hand of the growth in this industry, as a significant number of companies have used our services to complete transactions and secure industrial space to accommodate demand for their products, for both online and physical stores. Ceiling heights of 2.75m maximise natural light and views. Knight Frank and Savills have been appointed as joint selling agents. Gerald Ronson, Executive Chairman of Ronson Capital Partners, said: “Located on a corner site next to Paddington Street Gardens, Chiltern Place offers exceptional homes in one of the capital’s most sought-after locations. The fact that we have already sold over 60% to date illustrates just how special they are. The unprecedented level of demand from domestic owner-occupiers, who form the majority of our purchasers, highlights the appeal of this development’s location and specification: this is a place where people want to live.” Our goal with Chiltern Place has been to create homes that enhance and complement the unique lifestyle offered by Marylebone village. When completed, the building will offer residents access to a range of exclusive facilities and services, including a residents’ lounge, fitness suite, meeting rooms, and an on- site, hotel-style concierge service with 24/7 security. Ronson Capital Partners Reveals Chiltern Place is Over 60% Sold as Building Reaches Structural Completion