LONDON-A joint venture of William Pears Group and LaSalle Investment Management have purchased the mixed-use center Notting Hill Estate. Land Securities and Delancey reportedly sold the 4.5-acre property for a reported $208 million.

The property includes retail shops and restaurants, as well as an office complex, a movie theater and parking. The site is along Notting Hill Gate and Kensington Church Street in West London.

Jonathan Rose, property director with William Pears, said such an offering is rare in this region. “There are a number of development, refurbishment and asset management opportunities on the estate which we will exploit,” Rose said in a statement.

Amy Aznar, head of special situations at LaSalle, said the asset is of high quality, and in a superior location. CWM advised the William Pears Group, and Lewis and Partners advised LaSalle.