Hammersmith office block sold for £75m
4th May 2017
Coca-Cola’s former UK headquarters in Hammersmith is under offer to a Middle Eastern investor for more than £75m. The 82,000 sq ft, grade-A property at One Queen Caroline Street was refurbished in 2015 by its owners, Landid and Brockton Capital.Located above Hammersmith tube station, it was the beverage giant’s UK base for more than 20 years until it moved out in 2014.In January, Landid and Brockton let 8,239 sq ft of space on the second floor to professional services firm BTS. Other current tenants include US television network A+E and data company Kambi.
Increasingly “logical move”
The Hammersmith market has benefited from firms seeking a cheaper alternative to central London, and recent data from Colliers International showed annual rental growth of 5% to around £59/sq ft in 2016.One agent told Property Week that relocating to the area was an increasingly “logical move” for companies due to its transport links and proximity to central London.Also in Hammersmith, Westbrook Partners has recently brought the 77,502 sq ft Aircraft Factory office building at 100 Cambridge Grove to market. The converted factory, which was refurbished in 2016, is valued at around £70m and is let to 16 tenants. The other South East office assets in Landid and Brockton’s portfolio are the Charter Building in Uxbridge, Thames Tower in Reading and the Porter Building in Slough.