RREEF Real Estate has bought Majestic House in Staines, the latest in a string of purchases in the Western Corridor.
RREEF, which bought the 376,000 sq ft site for the PREEF UK Property Ventures Funds, No3, said it had pursued a strategy of expansion in the area over the last year as it predicted that the balance between supply and demand would improve.
The investment management arm of Deutsche Bank bought Majestic House in collaboration with Landid. The site has consent for residential, office, retail and leisure development.
The purchase of Majestic House brings the total number of developments that RREEF are involved with in the Western Corridor up to four, with a total area of 771,000,000 sq ft, which it plans to bring to the office market over the next 18 months.