Delancey (property firm)

Delancey Real Estate Asset Management Limited is a British property development company that with the Qatari ruling family in 2011 bought the Olympic Village used in the London 2012 Olympic Games. The area has been renamed the East Village.

The firm was founded by Jamie Ritblat, son of Sir John Ritblat, after he left British Land in 1995. It was formerly quoted but in 2001 went private again after a share buyback.

In May 2015, Minerva, the real estate investment and development group taken private by funds owned by Ares Management and Delancey, revealed it had sold the Walbrook Building in the City of London to Taiwan-based Cathay Life for a fee of £575 million.

In April 2015, Delancey formed a joint venture with LRC Group in a project to redevelop the Royal Mint Court office near the Tower of London. The deal followed lengthy negotiations after LRC acquired a loan secured on the site’s leasehold in May 2014. Delancey’s DV4 fund had owned the freehold interest since 2010.

In February 2015, Delancey revealed it was poised to sell its 102,000 square foot office at scheme at Orchard Brae House in Edinburgh as the firm looked to capitalise on numerous leasing deals at the building in the preceding 12 months. In January 2015, Delancey and commercial property developer Barwood partnered to launch a new industrial and logistics developer, with the aim of providing competition to its rival firms like SEGRO and Prologis in the sheds market.

In May 2012, Delancey advised Brazilian business magnate Moise Safra on his £500 million purchase of an office building in London’s financial district from the consortium, One Plantation Place Unit Trust.

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