Newsteer is delighted to have acted for the charitable owners on the marketing and disposal of the Freeholds of the former Ovalhouse Theatre, and Grade II Listed White House buildings at The Oval in Lambeth, which successfully completed during lockdown.

The sale helps to fund the charity’s move to new purpose-built premises in Brixton, at Somerleyton Road, which is part of a larger regeneration scheme being delivered by Lambeth Borough Council, including affordable homes and providing a new community/health facilities and social enterprises.

The new Brixton House Theatre, is scheduled to open its doors in 2021 and will provide fully accessible premises in the heart of Brixton to enable the charity to build upon their rich heritage and provide a renewed catalyst for artistic and social change in the community.

The purchaser of The Ovalhouse is Surrey County Cricket Club, and it is the first time in their 175 year history that the Club has purchased land outside the historic Oval boundary. The Club intends to redevelop the old theatre site with a 95 bed hotel and are exploring plans to convert the adjacent Grade II listed White House, which was the birthplace of the revered Second World War leader, Field Marshall Bernard Law Montgomery, for a combination of office and residential use.

Jonny Stevenson, Development Agency Director at Newsteer, said:

“It has been incredibly rewarding to see this sale come to fruition, and to achieve completion in lockdown. I am delighted for the Charity Trustees and for the Brixton House staff who we have supported throughout the process. My colleagues and I are pleased to have been able to assist with such an important social impact project delivering much needed new amenities in Brixton.

This transaction represents a great news story and helps to fund the delivery of new purpose-built theatre premises elsewhere in Lambeth. The premises at Brixton House will provide a new fully accessible cultural hub for social entertainment and artistic expression in the heart of the Brixton Community.

The sale allows Surrey County Cricket Club to expand their Oval estate and to strengthen and develop their accommodation facilities.

There were a number of technical complexities in this deal, including timing, the historic context and the Grade II listed building on site.

The deal represents a great result for the charity, provides evidence of underlying confidence in the market, and delivers a catalyst for improvement and investment in the community and commercial real estate in Lambeth.”

Gary Johnson, Executive Director and Joint CEO at Brixton House said:

“The sale of our existing site in Oval has been a pivotal moment in our history and will enable us to proceed with our ambitious plans for our new home in Brixton. We couldn’t be more pleased that the site will be in the safe hands of our partners at Surrey County Cricket Club. With the amazing support of the team at Newsteer, we were able to navigate the challenges brought on by the coronavirus pandemic and complete the process during these unprecedented times.”