London property group makes £12m acquisition on Kent development

London’s Buccleuch Property has sold its Quadron development in Dartford to Aberdeen Standard Investments for £12.1m.

The 41,500 sq ft buildings, located at the Bridge in Dartford, Kent, were fully pre-let during construction to Network Rail.

The project was undertaken in joint venture with Cambridge-based Wrenbridge Land with the whole development from planning submission to building completion and subsequent sale being achieved in 17 months from the unconditional purchase of the site.

The Grade A building occupies a prime location on The Bridge in Dartford - a 1.8m sq ft mixed use development.

Neil Finnie, director at Buccleuch Property, said: “We are delighted to be able to welcome Network Rail to our Quadron development.

“We were convinced that the strength of the location coupled with the high quality design of the buildings would ensure there was strong demand for the property during the construction phase.”

Stonehill Partners acted for Buccleuch and Wrenbridge in the sale with CBRE acting for Aberdeen Standard Investments.

Louise Greenan, deputy fund manager at Aberdeen Standard Investments, added: “We are extremely pleased to complete the purchase of this Greater London prime industrial development which will be used by Network Rail as a Regional Distribution centre for the south east.”