111 BPR Story
The core Victoria location, directly over the mainline Victoria railway station and fronting Buckingham Palace Road, was attractive along with the broader regeneration of the local area. With a low average passing rent of £47.00 psf, most of the rent roll up for rent review, and the remaining 11% expiring, this asset presented a substantial opportunity to drive rental uplifts. Kennedy Wilson’s value-add asset management plan included a comprehensive redevelopment of the reception, including a generous art installation, and refurbishment of the Sky Lobby.
In 2017, following the successful transformation of the reception and Sky Lobby, Kennedy Wilson delivered strong rental growth of 20% over in-place rents.