Singapore-listed City Developments Limited (CDL) has confirmed talks to acquire St Katherine Docks (SKD) marina in Central London.

Blackstone is the owner of the property and UK press reports suggested that the sale price was around £400m (€454.5m).

However, in its filing to the Singapore Exchange, CDL did not disclose the acquisition price or name the seller.

CDL said: “The company is currently in discussion with the seller on the SKD acquisition which is subject to satisfactory due diligence and negotiation on the terms and has signed an exclusivity for due diligence together with non-binding heads of terms.”

CDL added that there was currently no certainty that the SKD acquisition would materialise.

SKD is a 23-acre estate built in 1827 and central London’s only marina. It has over 5m sqft of commercial space and houses 200 berths.

Blackstone inherited the asset in 2014 when it acquired Max Property Group for £448m and has since undertaken significant capital work to attract top-tier tenants to the complex.

In 2018, Allianz Real Estate and Brookfield jointly refinanced the Devon House redevelopment project, a 90,000sqft building on the estate.

Blackstone had reportedly twice offered the asset for sale since 2017.

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