Warehouse K, Western Gateway, Royal Victoria Docks, London

Danesborough Properties advised Hermes Real Estate Investment Management on the purchase of this mixed use commercial scheme including restaurants, offices and residential for a price of £18.17m, in June 2011. The price reflected an initial return of approximately 8%, and a reversionary yield in excess of 9%. Warehouse K, is approximately 134,000 sq.ft, and sits adjacent to the vibrant Excel complex. The property, a former tobacco warehouse, was redeveloped in 2002, providing offices, restaurants, retail and light industrial elements, within a 1.84 acre site.