CDL finally acquires Marina Estate St Katharine Docks in London

The acquisition costs $636m (£395m).

City Developments Limited (CDL) completed its acquisition of St Katharine Docks, Central London in the UK for $636m (£395m) or £751 psf (S$1,209 psf) on the existing net lettable area.

In a bourse filing, CDL said the 23-acre fold mixed-use estate has over 500,000 square feet of Grade A office, F&B, retail and residential arranged across four main buildings and supporting ancillary spaces, including a marina with berths for up to 185 yachts.

St Katharine Docks has proximity to transport networks and offers a vibrant and tranquil environment. St Katharine Docks lures over 5.9 million visitors yearly.

Its office component has 90% occupancy rate and a long-term income has been secured, with an overall Weighted Average Unexpired Lease Term of 8.2 yearsand 9.4 years.