AXA Investment Managers have completed, on behalf of its AXA CoRE Europe Fund the acquisition of Warwick Building in Kensington London. The 79,506 sq ft office building was purchased from Legal & General, on behalf of the Bishopsgate Long Term Property Unit Trust, for £56.6 million.
The Warwick Building is a former Victorian warehouse which includes office space across ground and four upper floors. The building is fully let and has potential for further asset management initiatives and has planning consent to add two further stories to provide up to 25 new residential units.
The Warwick Building sits within Kensington Village, a prominent office campus which was comprehensively re-developed in 2000 and comprises a total of seven buildings. It is located within six minutes’ walk of four underground and over ground stations which in themselves are 10 minutes’ by train to the major mainline stations of Paddington, Victoria and Clapham Junction.
