Praxis snaps up Kent mixed-use development
Praxis Group has acquired 63 acres of Kings Hill town centre, a mixed-use development in Kent, adding almost half a million square feet of commercial space to its portfolio.
The award-winning mixed use development is set within a landscaped parkland and is home to around 200,000 sq ft of retail and leisure facilities, as well as more than 50 businesses – including Rolex’s UK headquarters – and over 3,200 homes.
Praxis said it has worked closely with Kings Hill stakeholders to develop a long-term rebalancing strategy, which will see part of the newly-acquired estate redeveloped alongside an inward investment to upgrade the core office portfolio into sustainable Grade A accommodation.
James Hewitt, chief operating officer at Praxis, said: “We are excited to become a significant stakeholder in Kings Hill and believe our active real estate management and placemaking expertise can accelerate the successful evolution of the town.”