Principle expands London stock with Grade II listed mixed-use scheme

A dozen exclusive flats in a prestigious conversion of a Victorian tobacco warehouse in London’s docklands are to be looked after by Principle Estate Management.

Principle has been asked to manage the residential spaces in the development known as Warehouse K, a Grade II-listed building next to the ExCel Centre, in-between Canary Wharf and London City Airport.

Robert Simonds, business development director at Principle, explained the new owners of the property had been introduced to them by French banking group BNP Paribas, which is managing the commercial elements of Warehouse K.

Mr Simonds said: “We are delighted to have been appointed to look after such luxurious residences in this high-profile development.

“Warehouse K is a fascinating building dating back to the 1850s and it demonstrates how Principle is becoming increasingly successful in obtaining instructions in London.

“We will be liaising closely with BNP Paribas on this project as some of the services are shared between residential and commercial.

“It’s a perfect illustration of how we can liaise with commercial managing agents on mixed-use schemes where they do not have the residential expertise.”

Warehouse K, which has a total of 108,479 sq ft of office, leisure and industrial space over a 1.84-acre site, was bought for £45 million earlier this year.

Situated in the heart of one of London’s major regeneration areas, the building is close to the forthcoming Silvertown Quays and Royal Albert Docks which will together eventually provide around 11.7 million sq ft of office and residential accommodation.

The 12 luxurious flats in Warehouse K range in size from 484 to 1,371 sq ft, while the commercial spaces are let by various top tenants including London International Exhibition Centre plc and Docklands Restaurants and Bars Ltd.

Mr Simonds added: “It’s great to have become involved in such a prominent development in one of London’s major regeneration areas, and this firmly positions Principle as a national business.

“We have a deep understanding of how the landscape of property management is changing, and our role is not just about bricks and mortar but the people in the communities we serve, and the positive impact we can have on their everyday living.”