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Altum Capital acquired a mixed-use building at 330-344 Walworth Road in London’s Elephant & Castle from Kennedy Wilson. The £7.8M sale was an off-market transaction.
The building totals nearly 40k SF and is multi-let to four tenants, including Iceland, Peacocks and The Gym for a weighted average lease term of eight years to breaks.
Altum Capital’s Jack McCarron said the acquisition fit the company’s strategy to purchase well-let buildings in growth areas of Greater London. He also noted that uncertainty in the market allowed the company to get a price of under £200/SF. The building will also benefit from the significant investment going into the surrounding area.
Kingly Partners advised Altum Capital while Kennedy Wilson was unrepresented.
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