Royal Albert Wharf
DWS acquires three buildings

DWS acquires three buildings

08/04/2022 by Buildington
 
Site acquired

DWS has exchanged contracts to acquire three residential properties at the Royal Albert Wharf development in an off-market transaction.

The fully let new residential properties in the Royal Docks, completed in 2020, are located directly on the River Thames and not far from London City Airport.

The three properties comprise 182 residential units and have a lettable area of around 12,300m2.

The properties are primarily aimed at young professionals and families and, due to their location, are very well connected to Canary Wharf and the City of London.

The seller is Folio London, the PRS arm of Notting Hill Genesis. Savills Operational Capital Markets advised the vendor on the transaction.

Mike Hill, Head of Real Estate Transactions, UK and Ireland, DWS, commented: “This acquisition is a testament to our strategy to focus on high quality real estate investments offering stable cash flows and a sustainable occupancy level for our investors. We remain interested in promising acquisitions in the residential, logistics and office sectors.”

Davina Clowes, Director, Savills Operational Capital Markets said: “Savills is delighted to have advised Notting Hill Genesis on this landmark deal. This is a significant transaction for the sector, marking one of the first operational assets of scale to trade in the London market since Covid-19 began. It was a pleasure working with both parties on the transaction, which is a great example of how our investor network, deep market understanding, and real estate intelligence combine to deliver great outcomes for our clients.”

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