RPMI Railpen (Railpen), the investment manager for the £30bn railways pension scheme, has purchased Camden Works office scheme in North West London. The acquisition bolsters Railpen’s portfolio of office investments in the capital, following the 2018 purchase of Thames Wharf Studios.

Comprising three neighbouring warehouse-style office buildings, Camden Works totals 44,221 sq ft of contemporary office accommodation in the heart of the vibrant Camden borough, which has recently been named in a report by Growthdeck as the top destination in the UK for creating new businesses. Formerly utilised for piano manufacturing, each of Camden Works’ three structures is rich with historical character and unique period features.

Emily Atkinson, Asset and Transaction Manager at RPMI Railpen, commented on the purchase: “The many exceptional attributes and prospects of Camden Works make the asset a particularly valuable addition to our portfolio. Boasting unique appeal and excellent transport connections, Camden Works meets our core investment themes.

“We will be making strategic investments to enhance the distinctive character of these buildings. This will drive Camden Works’ appeal for office occupiers and generate long-term returns for Railpen’s members, through a host of asset management, redevelopment and future rental growth opportunities.”

DTRE advised RPMI Railpen, while TTG Partners acted for the vendor.