Kingston Properties Limited (KPREIT) has taken another decisive step in its overseas expansion strategy, completing the acquisition of a modern office asset in the United Kingdom and reinforcing its march toward stated 2026 targets.
The latest purchase, finalised on December 24, adds a three-storey, 17,085-square-foot office building in Dartford to the company’s growing UK portfolio. Located within the Crossways Business Park—approximately 20 minutes from Central London—the property positions KPREIT firmly within a well-connected commuter belt supported by mature infrastructure and sustained commercial demand.
Constructed in 2009, the building is fully occupied by Kuehne + Nagel Limited, the UK arm of the global logistics powerhouse Kuehne + Nagel International AG. The tenant operates under a long-term lease that runs through October 2029 and is responsible for full repairs and insurance, offering KPREIT a predictable, low-maintenance income stream. Current rental income stands at just over £408,000 annually, translating to close to £24 per square foot.
While the company has not yet disclosed the acquisition price, market listings prior to the sale suggested valuations north of £3.5 million, with an attractive initial yield profile. KPREIT has indicated that the transaction was financed through a combination of debt and equity, with further details expected in its upcoming audited financial statements.
The Dartford acquisition reflects a broader thesis articulated by KPREIT in recent years: selectively acquiring resilient, income-generating assets in overseas markets undergoing cyclical or structural stress. The UK, still navigating the economic aftershocks of Brexit, has presented such opportunities despite its enduring importance as a global hub for logistics, trade, and professional services.
To execute this strategy, KPREIT established its UK subsidiary in early 2024. Since then, it has completed acquisitions in Bristol and Dorking, bringing its total UK holdings to just over 50,000 square feet. As a result, the UK now accounts for roughly 16 per cent of the group’s total portfolio, alongside significant exposure to Jamaica, the Cayman Islands, and the United States.
At the end of 2024, KPREIT owned more than half a million square feet of buildings and additional land assets across its markets. The group is targeting US$100 million in assets under management or ownership and US$2 million in funds from operations by the 2026 financial year. As of the September reporting period, consolidated assets stood at approximately US$87 million.
Beyond acquisitions, KPREIT continues to invest in development and capital markets activity. During the year, it secured a multi-million-dollar debt facility to fund a joint-venture mini-warehouse development in Jamaica, with completion expected in early 2026. Shareholders have also approved plans for an additional public offering, potentially denominated in foreign currencies, to support further balance-sheet optimisation and growth.
Operationally, the company recorded strong growth in rental income over the nine-month period, driven by higher occupancy and the contribution of new UK assets. While profits were dampened by valuation adjustments and higher finance costs linked to expansion, funds from operations improved materially—underscoring the cash-generating strength of the underlying portfolio.
KPREIT’s shares last traded at $9.40, leaving the company with a market capitalisation of approximately $8.3 billion. As it continues to rebalance geographically and scale internationally, management appears focused on disciplined growth, tenant quality, and long-term income resilience rather than short-term optics.
