Covent Garden property to be transformed into residential development

The upper floors of a central London site are set to be transformed into residential properties thanks to new planning consent.

Lothbury Investment Management Limited, on behalf of Lothbury Property Trust, has completed the conversion of the upper floors of 31 James Street in London’s Covent Garden to residential occupation.

The floors have been converted into three new apartments, with planning consent and works all delivered during lockdown.

Mark O’Mullane, fund manager at Lothbury Investment Management, commented: “The Fund has a number of holdings in Covent Garden. It is one of the most sought-after locations in London with an exceptional, established retail offer, complemented by a continuously changing and exciting leisure offer.

“These conversions to residential increase the building activity and add value to the upper parts of the building.

“In addition, planning consent has been secured to convert the upper parts of 30 – 27 James Street into residential and office use which will be implemented over time. This will help provide diversity to the income received from this asset and will deliver an exceptionally prime mixed-use asset.”

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