Pan-European real assets manager Kajima has bought a £45m (€52.4m) London office building.
Kajima said the multi-let Warehouse K building offers 108,479sqft of office, leisure and industrial space over a 1.84-acre site.
The Grade II listed former tobacco warehouse is located at the heart of London’s Docklands. The asset is situated next to the ExCel Centre at the heart of a major regeneration site in-between Canary Wharf and London City Airport.
Kajima said the acquisition forms part of its strategy for growing its London commercial property portfolio with high-quality workspaces within strategic locations.
Kajima said it continues to look for opportunities to increase its London office footprint with high-quality, prime location spaces.
The firm’s London portfolio includes 77 Coleman Street in Moorgate, Orwell House in Fitzrovia and Grove House in Marylebone.
Tim James, investment director at Kajima, said: “Warehouse K is an important addition to our London office portfolio. Situated in a strategic location with significant regeneration and infrastructure improvements occurring within close proximity, this asset offers strong long term growth prospects whilst also providing secure income off sustainable base rents.
“As we exit the pandemic, the London office market continues to remain resilient and Kajima is committed to driving investment and growth in this market where we identify value.”
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