UK Railways Pension Scheme buys Thames Wharf Studios
The UK pension fund for railway companies has acquired Thames Wharf Studios in West London for an undisclosed sum.
RPMI Railpen said it bought the freehold interest in Thames Wharf Studios in Hammersmith from London & Regional Properties, a privately held real estate investment firm.
RPMI Railpen, the investment manager for the £28bn (€31.5bn) Railways Pension Scheme, said the deal represents the first opportunity to purchase the entire complex and its associated freehold in nearly 40 years.
Anna Rule, the head of property at RPMI Railpen, said: “The Thames Wharf complex offers an attractive and compelling investment proposition.
“In addition, the site has received consent for further development adding to its long-term value and helping us to meet our mission to pay members’ pensions securely, affordably and sustainably.”
Set on a one-acre site with rare frontage to the River Thames, the majority of the property comprises office accommodation which has been multi-let to a variety of office tenants.