Dominvs Group, the leading property development and investment group, has announced the acquisition of two neighbouring sites in East London’s vibrant and dynamic Stratford, totalling 17,424 square feet.
The sites will be used in tandem to create a strategic development, becoming the latest in a long line of flagship Dominvs schemes. Dominvs Group is currently assessing the best use of the combined site to fit the needs of the local community and economy.
The acquisition demonstrates Dominvs’ ability to identify and acquire prime sites off-market, with a view to delivering institutional-grade property development projects, both nationally and in London. In this instance, Dominvs saw great potential value in combining these two sites and hence also targeted the purchase of the neighbouring site, which will further enhance the quality of any forthcoming development.
The deal follows a string of hires in Dominvs’ senior management team in the last 12 months, as the business increases its capacity for securing industry-leading deals. This combined purchase of twin sites showcases the increasing strength and agility of the Dominvs team and their ability to combine strategic land acquisitions with the foresight to develop more significant and impactful developments.
The two new sites are located at 302-312 Stratford High Street, opposite the Stratford High Street Docklands Light Railway (DLR) station, with excellent transport links to Central and East London and the Queen Mary University of London campus.
Dominvs Group views Stratford as a prime location for future growth. The area is one of the most well-connected in London and it is estimated that over 20,000 jobs could be created there by 2030 as a result of the ongoing regeneration. This makes Stratford an extremely attractive location for the latest of Dominvs’ best-in-class developments.
The sites are just a short walk from the Queen Elizabeth Olympic Park, which features world-class sporting facilities that are open to the public, including the Zaha Hadid-designed Aquatics Centre and the Velodrome, as well as access to the River Lea and Westfield Stratford City.
Jay Ahluwalia, Senior Director at Dominvs Group, said: “This is a very exciting investment for Dominvs as we grow our portfolio for future developments across asset classes. We are currently undergoing the necessary research to understand the needs of the local community and economy so we can make an informed decision of the end-use scheme which will contribute positively to the regeneration and growth of the dynamic, innovative Stratford area. In the interim, and with the launch of our dedicated Social Value Unit in July, we are conscientiously embedding social value initiatives into each stage of the development lifecycle in partnership with Our Newham and other local community partners, all of which will be announced shortly.”
