Mago Capital has announced the acquisition of a prominent retail parade located at 129-137 Kensington High Street. The deal, valued at £26.65 million, was completed with DTZ IM as the seller. This strategic purchase marks another significant investment for Mago Capital in Central London.
Key Takeaways
- Mago Capital has acquired a fully let retail parade on Kensington High Street for £26.65 million.
- The property includes five retail units and 20 residential flats above.
- The acquisition underscores strong investor demand for well-located London real estate.
- Mago Capital has ambitious investment targets for the coming years.
Strategic Acquisition in a Prime Location
The newly acquired property on Kensington High Street comprises a fully let retail parade, featuring five established retailers. Above the commercial spaces, there are 20 residential flats, offering a mixed-use investment profile. The commercial element of the sale was secured with a Weighted Average Unexpired Lease Term (WAULT) of 6.37 years, indicating a stable income stream for the new owner.
Mago Capital’s Expanding Portfolio
This acquisition is part of Mago Capital’s broader investment strategy. The firm, which includes Eastway Estates, the investment arm of Prideview Group, has been active in the Central London market. In 2025 alone, Mago Capital has already completed deals exceeding £200 million. The company is now targeting further investments of up to £1 billion over the next 12 to 24 months, signalling a period of significant growth and expansion.
Market Confidence and Future Potential
Industry experts have highlighted the significance of this transaction. Avi Rosenfield, associate director at Colliers’ One London team, which represented Mago Capital, described the asset as a "trophy block" and an "iconic piece of London real estate." He noted that the sale reflects the robust demand from investors for stable, well-located properties across the capital. The prime retail market has shown a strong recovery post-Covid, leading to renewed interest from both tenants and investors in prime London locations. Rosenfield also pointed to the potential for strong rental growth in the retail units and the value-add opportunities presented by the residential component.
Paul Souber, head of One London at Colliers, expressed satisfaction with advising on the acquisition. He emphasised the role of Colliers’ One London platform, which leverages market intelligence and combines investment, leasing, and advisory expertise with global reach. The transaction was also supported by advice from Eastway Estates, Brotherton, and Fladgate LLP.
Sources
- Mago Capital snaps up £27m Kensington retail asset, Green Street News.
- Mago acquires Kensington high street retail parade, BE News.
