L&G AND MITSUBISHI APPOINT CBRE AND STRUTT & PARKER AS JOINT AGENTS ON LANDMARK HAMMERSMITH OFFICE DEVELOPMENT
Legal & General Investment Management Real Assets (L&G) with JV Partner Mitsubishi Estate London have appointed CBRE to work jointly with Strutt & Parker to advise on the speculative office development and leasing of 245 Hammersmith Road, London W6. The project has a gross development value of £275m.
When complete, 245 Hammersmith Road will be the largest single office building to be built in Hammersmith for more than 20 years. Designed by Sheppard Robson the 12-storey Grade A office building will comprise approximately 245,000 sq. ft of space which will include a 7,000 sq ft reception benefitting from café and business lounge facilities. The development will also benefit from retail units on ground and first floor level fronting Hammersmith Road as well as a landscaped public realm to the front and significant public piazza to the rear of the property.
Demolition has already started, with construction beginning on site in January 2017 and completion expected in March 2019.
The development of 245 Hammersmith Road is a hugely exciting landmark project given its strategic location and critical mass. Hammersmith has witnessed a significant increase in occupier demand in recent years but has had relatively limited office development. This project with its outstanding design incorporating public realm and large piazza will ensure the next generation of grade A occupier demand can be met.
Edward Smith, Partner at Strutt and Parker commented: “245 Hammersmith Road is not only the largest development to be delivered in Hammersmith for 20 years but also the largest speculative office scheme to have made a start this year in central London. With completion in March 2019 we expect the development to attract strong interest from both West and Central London occupiers.”
Simon Wilkes, Head of Business Space Development at L&G commented: "This is an incredibly exciting office development for Hammersmith, which has already received significant interest from blue chip occupiers. We are pleased to have appointed our agents on the scheme as demolition works have already started to create this new office destination for.”