10 April 2017
London
Reporter: Theo Andrew
London’s Warwick Building sells for £56.6 million
Axa Investment Management (IM) - Real Assets has acquired the Warwick build in London, on behalf of its AXA CoRE Europe Fund, for £56.6 million

The 79,506-square foot fully-let office building was sold by Legal & General on behalf of its Bishopsgate Long Term Property Unit Trust.

Located within Kensington Village, next to Battersea Park, the Victorian warehouse comprises five storeys with planning permission to develop two more, potentially adding 25 residential units.

The property sits a six-minute walk from underground and overground stations, and around 10 minutes from the major stations of Paddington, Victoria and Clapham Junction.

Huw Stephens, head of UK transactions at AXA IM - Real Assets, said: “The fully-let Warwick Building is a distinctive and highly appealing property which is part of a landmark scheme in a popular, affluent and extremely well connected area of London.”

He added: “AXA IM - Real Assets remains committed to substantial UK property investment and this acquisition is further evidence of the long-term attraction of London.”

Will Edwards, senior fund manager of the Bishopsgate Long Term Property Unit Trust, said: “The successful execution of our business plan for this property, realised through the positive settlement of the 2016 rent review, coupled with the subsequent sale, are testament to the skill of our asset management platform and these initiatives have enabled us to deliver strong returns for our client.”

More news
The latest news from Real Estate Investment Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Barings Real Estate appoints Marco Court in Italy expansion
28 April 2017 | Milan | Reporter: Theo Andrew
In his new role, Corti will be responsible for increasing investment and asset management in the country
COIMA board appoints independent directors
28 April 2017 | Milan | Reporter: Theo Andrew
The appointments mean seven out of nine board members are now independent
Heimstaden expands Copenhagen portfolio for €118 million
27 April 2017 | Copenhagen | Reporter: Theo Andrew
Haimstaden currently has a number of projects underway in Copenhagen, including the Bjerglandsbyen development
New director of self-storage at W.P. Carey
27 April 2017 | New York | Reporter: Theo Andrew
Boulter joins from Wasatch Storage Partners, where he was vice president of business development
PGIM debt fund raises over £1 billion
27 April 2017 | London | Reporter: Theo Andrew
The fund raised more than 80 percent of the capital in the nine months following the UK’s vote to leave the EU in June
WELPUT fund sell £135 million London office
26 April 2017 | London | Reporter: Theo Andrew
The deal, made on behalf of Schroder’s West End of London Property Unit Trust (WELPUT) fund, reflects a net initial yield of 3.96 percent
Clifford Chance promotes Matt Taylor to real estate partner
26 April 2017 | London | Reporter: Theo Andrew
Taylor has been in the real estate arm of Clifford Chance for the past 10 years, joining the law firm in 2005 as a trainee solicitor