Praxis has acquired 63 acres of land at the Kings Hill mixed-use development in Kent for an undisclosed price.
The deal adds almost 500,000 sq ft of mixed-use commercial space to Praxis’ growing UK portfolio.
Some of the estate will be redeveloped and Praxis intends to invest in upgrading the core office portfolio into sustainable best-in-class Grade A accommodation.
Set within landscaped parkland, Kings Hill, which was built on the 650-acre former RAF West Malling airfield, is home to more than 50 businesses, including Rolex, and houses more than 3,200 homes, three schools and around 200,000 sq ft of retail and leisure space.
James Hewitt, chief operating officer at Praxis, said: “We are excited to become a significant stakeholder in Kings Hill and believe our active real estate management and placemaking expertise can accelerate the successful evolution of the town.”
