LaSalle Investment Management and Trilogy Real Estate have put a six-acre mixed-use campus in Central London up for sale with a price tag of £247.5m+.
The Inventory Estate, which is located at East India Dock in Tower Hamlets, comprises existing space at the Republic campus, in addition to planning consent for new residential accommodation, workspace and a data centre.
LaSalle and Trilogy acquired the 600,000 sq ft Clove Crescent development in 2015 and subsequently refurbished and extended the Import and Export buildings at the renamed Republic campus to increase the floor area to 720,000 sq ft.
The planning consent will see two buildings at Clove Crescent that were in use and not redeveloped, demolished to create 940,000 sq ft of new-build space – 497,000 sq ft of residential space in two high-rise buildings on the south western corner of the site, a 376,000 sq ft data centre and 64,000 sq ft of studio workspace.
The residential towers will comprise a 36-storey purpose-built student accommodation (PBSA) building providing 716 rooms and a 30-storey residential tower providing 150 units.
A spokesperson for LaSalle Investment Management and Trilogy Real Estate, said: “The Inventory Estate brings together three of London’s most resilient and in-demand real estate sectors: education, data and living. It reflects years of strategic investment and placemaking, creating a platform with strong income and substantial future potential. The estate is now well positioned for its next phase of growth under new ownership.”
Kauffmans and Knight Frank have been appointed to market the estate, which is available as a whole or in parts.
