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Kennedy Wilson and Partners Acquire South East England Office Campus, Ditton Park, for £41.3 Million

Global real estate investment company Kennedy Wilson (NYSE: KW) and its equity partners (“Kennedy Wilson”) announces it has closed on the acquisition of Ditton Park, a 200-acre office campus in South East England, for £41.3 million.

Ditton Park, South East England Office

Ditton Park, South East, UK 

Ditton Park provides 195,000 sq ft of Class A offices and a 44,000 sq ft Grade II listed prestigious manor house, set across 200 acres of landscaped park land. The campus is well located in the M4 corridor, close to the M25 and Heathrow Airport, between Slough and Windsor and with excellent links to Central London. It is set to further benefit from transport improvements with the opening of Crossrail in 2020.

Ditton Park was previously owned and occupied by Computer Associates, as its UK headquarters, prior to its sale to Broadcom, the global technology supplier.

Mike Pegler, Head of UK of Kennedy Wilson, said: “Ditton Park is an exciting acquisition and a unique opportunity to acquire a high-quality, well-located office asset at a significant discount to replacement cost. We see a very attractive opportunity to grow NOI through refurbishment and lease-up by presenting the offices in their entirety to the leasing market for the first time.

“Alongside these plans, there are multiple angles for asset management upside, which will see Ditton Park transformed into a vibrant mixed-use campus. We will apply the placemaking experience gained across our UK portfolio to bring forward a best-in-class offer to meet the needs of the modern occupier.”

About Kennedy Wilson

Kennedy Wilson (NYSE:KW) is a global real estate investment company. We own, operate, and invest in real estate both on our own and through our investment management platform. We focus on multifamily and office properties located in the Western U.S., UK, and Ireland.
For further information on Kennedy Wilson, please visit: www.kennedywilson.com.

Special Note Regarding Forward-Looking Statements

Statements in this press release that are not historical facts are “forward-looking statements” within the meaning of U.S. federal securities laws. These forward-looking statements are estimates that reflect our management’s current expectations, are based on assumptions that may prove to be inaccurate and involve known and unknown risks. Accordingly, our actual results or performance may differ materially and adversely from the results or performance expressed or implied by these forward-looking statements, including for reasons that are beyond our control. Accordingly, you should not unduly rely on these statements, which speak only as of the date of this press release. We assume no duty to update the forward-looking statements, except as may be required by law.

For further information, please contact:

Investors:
Daven Bhavsar, CFA
Vice President of Investor Relations
+1 (310) 887-3431
dbhavsar@kennedywilson.com

European Media:
FTI Consulting
Dido Laurimore / Eve Kirmatzis
+44 20 3727 1000
kennedywilson@fticonsulting.com

Contact

Kennedy Wilson
151 S. El Camino Dr.
Beverly Hills, CA 90212

Phone: +1 (310) 887-6400
Fax: +1 (310) 887-3410