Office Space in Hammersmith is Expanding with £92m Development
The final phase of the Hammersmith Grove redevelopment creating in demand office space in Hammersmith is to go ahead with SWIP Property Trust committing £92m to the project.
SWIP Property Trust’s commitment will allow work on the 167,000 sq ft Grade A office development at 12 Hammersmith Grove to begin in May this year. Once complete, the building will be a partner to the £50m 10 Hammersmith Grove development which was completed last year.
In addition to office space in Hammersmith, the building will incorporate restaurant space while the broader redevelopment project will also include the creation of additional public space.
SWIP Property Fund is hopeful that the second phase of the development will repeat the success of the first, which saw more than 32,000 sq ft of office space (two full floors) snapped up by UKTV.
According to Kerri Hunter of SIP Property Trust: “The first phase, 10 Hammersmith Grove, surpassed our expectations and we’re keen to build on its success by delivering a similarly high quality building into a market that is increasingly starved of supply.”
Hunter’s view of the West London office market was echoed by Julian Julian Barwick of Development Securities, who said: “The appetite for premium office space in locations such as Hammersmith, on the edge of London’s traditional office core, is growing, as occupiers are increasingly price sensitive and yet still discerning with regards to quality. The supply of grade A office space in Hammersmith is otherwise very limited with 10 and 12 Hammersmith Grove providing the highest quality space in this market.”
The need for Grade A office space, combined with Hammersmith’s continuing appeal for high-profile occupiers, has led the London Mayor to become a keen supporter of redevelopment here.
While development is ongoing, the corporate tenants continue to arrive. Last year, Dunnhumby opted to pre-let an entire office building on Shepherd’s Bush Road as the company’s new HQ. Meanwhile, in February this year, Disney revealed plans to open a production office in Hammersmith; a location which is already home to the UK HQ of The Disney Store. Other high-profile occupiers of office space in Hammersmith include L’Oréal, Coca-Cola and Chivas Brothers.
These kinds of occupiers are attracted by the supply of modern, purpose-built office premises which are capable of accommodating larger business requirements while still being close to the heart of the capital.
The final phase of the Hammersmith Grove scheme will increase the supply of Grade A office space in W6, increasing the options for businesses in need of high-quality West London offices.
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