CityDev snaps up $335m Stag Brewery site in London

It will be turned into a mixed-use project.

City Developments will fork out $334.96m (£158m) to buy an expansive land site in south west London, the company revealed.

The site had until recently been occupied by Stag Brewery, which is owned by leading global brewer AB InBev. It is located beside the River Thames and has a size of 89,031 square metres, or approximately 22 acres.

CityDev aims to redevelop the site into a new mixed-use development complete with a riverside residential belt. The site can accommodate a major residential development, new school, a hotel and other employment and leisure uses, CityDev said.

Completion of the acquisition is expected to be finalised by the first week of December this year. The deal was conducted by CityDev’s subsidiary Reselton Properties, represented by Darthmouth Capital Advisors.