Kennedy Wilson picks up UK office campus for €47m

Global real estate investment company Kennedy Wilson has acquired Ditton Park, a 200-acre office campus in South East England, for £41.3 mln (€47 mln). 

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

'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,' said Mike Pegler, head of UK, Kennedy Wilson.

'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,' Pegler added.

Ditton Park comprises 195,000 ft2 of offices and a 44,000 ft2 Grade II listed manor house, in 200 acres of landscaped park land. The campus is located between Slough and Windsor, and is set to benefit from the opening of Crossrail in 2020.

'Alongside these plans, there are multiple angles for asset management upside, which will see Ditton Park transformed into a vibrant mixed-use campus,' Pegler noted. '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.'

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