Capital & Counties Properties Plc said its Lillie Square joint venture has exchanged contracts to sell all 49 apartments and 31 parking spaces at 9 Lillie Square in its Lillie Square development in London for roughly £66 million.
An international investor agreed to buy the apartments in Phase 2 of the Lillie Square scheme and paid £6.6 million upon exchanging contracts, of which Capital & Counties' share is £3.3 million.
Another 10% of the total consideration will be paid in 12 months and the remainder will be paid upon completion.
Central London focused property investor and developer Capital & Counties noted that 142 of the total 186 units in Lillie Square Phase 2 have now been reserved or exchanged.
The Lillie Square joint venture is between Capital & Counties and interests of certain members of the Kwok family, who are major shareholders of Hong Kong-listed Sun Hung Kai Properties Ltd.
