Max Property Group buys central London’s only marina
A property group is set to refurbish St Katherine’s Docks in London having bought the development for £156m.
Max Property Group and a South African family trust, Newmarket Property Holdings, bought the 50,000 sq ft site next to the Tower of London.
The site includes offices, restaurants and shops plus the only marina in central London.
The new owners plan to refurbish one of the estate’s main buildings, Commodity Quay, which will become vacant next year, and relaunch it onto the office lettings market in 2013. The firm hopes to sign up tenants before other large developerment are completed in the City.
Nick Leslau, chairman of Prestbury Investments, Max’s property manager comments: “St Katharine Docks is one of London’s jewels, providing a stunning waterside environment, enhanced by the magnificent backdrop of Tower Bridge and the Tower of London.”
“It is difficult to imagine a more beautiful place to work and live in Central London and it will be our privilege to enhance the experience of such an important landmark, whilst simultaneously delivering attractive returns for our shareholders.”