Investor buys Croydon shopping, hotel and office complex from Kennedy Wilson

Global real estate investment manager Kennedy Wilson has sold Croydon office, hotel and retail complex, Norfolk House to a private family office from India.

Norfolk House is located 350 metres from East Croydon Station and comprises 160,672 square feet including a 149-bed, 60,000-square-foot Travelodge hotel, 40,228 square feet of offices and 60,444 square feet of retail.

The property is multi let to tenants including McDonald’s, Clydesdale Bank, Moss Bros and Greggs. There is a weighted average unexpired lease term of 5.9 years to expiry and 4.6 years to breaks.

The price paid for the 1.84-acre site has not been disclosed.

The buyer is understood to be reviewing the redevelopment potential with Kennedy Wilson having submitted a pre-application for shops at 24-28 and 67 George Street to be extended to 29 storeys comprising over 300 homes.

Rahul Dixit from Asset Bricks acted for the buyer and CBRE acted for Kennedy Wilson.

Asset Bricks is a design-led boutique development company with expertise in residential, mixed-use and commercial properties across the UK. Asset India advises ultra-high-net worth investors from India.