LONDON-Development Securities PLC has acquired a residential building next to the Olympic Park in East London for GBP 15.7 million. The company, in joint venture with Canada-based Realstar, bought the 112-unit property at Wick Lane in Hackney Wick.
The residential units are spread over 116,000 square feet of space and the property also has an additional 12,000-square-foot retail space. The vacant apartments will be renovated and leased to create an en block apartment model. For the full story, go to Europe Real Estate .
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