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,
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.
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For further information, please contact:
Daven Bhavsar, CFA
Vice President of Investor Relations
+1 (310) 887-3431
Dido Laurimore / Eve Kirmatzis
+44 20 3727 1000