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The listed entity, Kingston Properties Limited (KPREIT), has completed the acquisition of its third property in the United Kingdom for an undisclosed sum.
The acquisition adds to its growing portfolio of international assets. The deal was finalised on 24 December, according to a KPREIT market release to the Jamaica Stock Exchange.
Based on shifts in the geographic weighting of its investment portfolio, the property acquisition suggests that more than US$3.0 million in value was added to its UK holdings. The Financial Gleaner sent queries to CEO Kevin Richards and awaited a response up to print time.
The property, known as Lakeview East, is a 17,000 square foot ‘Grade A’ office building located in Crossways Business Park in Dartford, viewed as a key commercial hub on the immediate outskirts of London. The building boasts a strong energy performance rating, aligning with KPREIT’s sustainability and economic, social and governance (ESG) objectives.
The property is currently leased to a shipping company that generates £20 million in revenue. “They have been in continuous occupation since 2009,” added KPREIT about its tenant.
Dartford, situated about 20 minutes outside Central London, has been one of England’s fastest growing towns over the past 15 years, the release explained. Crossways Business Park, where Lakeview East is located, is a well established mixed-use development featuring office, industrial, and distribution spaces that attract a diverse range of businesses.
“This acquisition further strengthens KPREIT’s exposure to resilient commuter belt office locations supported by robust infrastructure, a diversified employment base, strong fundamentals, and institutional grade tenants,” the company said.
The company said it used loans and cash to pay for the property. After the purchase, KPREIT’s UK portfolio share rose to 16 per cent in December from 12 per cent in September. Jamaica slipped to 42 per cent from 43 per cent, the Cayman Islands to 39 per cent from 41 per cent, and the USA to 3.0 per cent from 4.0 per cent.
The UK portfolio was valued at US$9.9 million out of KPREIT’s total US$81.2 million portfolio in September, which also included assets in Jamaica, the Cayman Islands, and the United States. The rise in the UK portfolio share, with no property sales during the period, suggests the acquisition added between US$3.2 million and US$3.7 million in value.
The UK acquisition of Lakeview East follows KPREIT’s acquisition of a 13,000 square foot office building in Dorking Business Park earlier in 2025, its second property in that market.
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