O Twelve Estates has acquired £17m of mixed properties in the Thames Gateway, bringing total investment for the AIM-listed company to £56m since March
Advised by Rugby Asset Management, the company has purchased an office investment, a residential property and two industrial estates.
It has bought Redwing Court, Ashton Road in Romford for £2.5m. The two vacant offices total 30,000 sq ft (2,787 sq m) and are expected to have an end value, following refurbishment, of £6m.
O Twelve also purchased Richard Robert Residence, Salway Place in Stratford for £8.1m. The residential property has 38 units and generates an annual income of £370,000 a year.
In addition, O Twelve acquired two industrial estates for £6.9m – Barratt Industrial Estate in Bow and Bakers Court Industrial estate in Basildon. The estates total 71,000 sq ft (6,596 sq m) and generate incomes of £185,000 and £266,000 a year respectively.
David Tye, chairman of Rugby Asset Management said: ‘As the preparations for the London Olympics begin to accelerate, we anticipate a number of ongoing opportunities both to enhance the value of the assets we have already acquired and to continue to identify similar assets over the coming months.’