Praxis has acquired c. 25.5ha of Kings Hill town centre. The acquired site will see c. 46,451m2 of mixed-use commercial space added to Praxis’ growing UK portfolio including several redevelopment opportunities.
Developed on the 263-ha former RAF West Malling airfield, Kings Hill is an award-winning mixed-use development in the heart of Kent. Set within a landscaped parkland Kings Hill is home to more than 50 businesses, including Rolex’s UK headquarters, over 3,200 residential homes, three schools and around 1.8ha of retail and leisure facilities.
James Hewitt, Chief Operating Officer at Praxis, commented: “We are excited to become a significant stakeholder in Kings Hill and believe our active real estate management and placemaking expertise can accelerate the successful evolution of the town.”
Praxis has worked closely with Kings Hill stakeholders to develop a long-term rebalancing strategy which will see part of the newly acquired commercial estate redeveloped alongside a significant inward investment to upgrade the core office portfolio into sustainable best in class Grade A accommodation.
Image source - Praxis.
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