Kennedy Wilson has closed on the acquisition of Ditton Park, a 200-acre office campus in South East England, for €46.5m (£41.3m). Ditton Park provides 195,000ft² of Class A offices and a 44,000ft² Grade II listed prestigious manor house. 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.”
