Deutsche Asset Management announced the sale of Fort Halstead, Kent, United Kingdom on behalf of one of its institutional funds. This concludes the second phase of the disposal of this property, achieving a total price of €77.5m.
Purchased in 2005, the property occupies a 330 acre site in Sevenoaks. Located five miles south east of London, Sevenoaks is considered a strong commuter location serving London’s key rail stations, and within the main orbital motorway, the M25. Positioned within the Green Belt and the Kent Downs AONB (Area of Outstanding Natural Beauty), it is considered an attractive, high quality environment.
Deutsche AM executed a number of objectives set out in the business plan which included obtaining planning permission for a mixed use development for the site.
James Petit, Head of Real Estate, UK and Ireland at Deutsche Asset Management said: "The successful implementation of the business plan by our asset management team has resulted in a positive result for all parties involved."
Deutsche AM’s global real estate business currently holds €50.0 in assets under management as of 31 December, 2016.
