Westbrook eyes £70m-plus lift-off for Aircraft Factory

By Paul Norman - Friday, April 21, 2017 12:28

Westbrook has appointed GM Real Estate to sell the Aircraft Factory in Hammersmith, west London, with the office, which once played a key role in producing Mosquito bombers during World War Two, expected to fetch in excess of £70m.

The building is located on 1.30 acres close to Hammersmith Broadway and has been comprehensively refurbished to provide Grade A office accommodation across three inter-connecting blocks

 

It comprises a total net lettable floor area of 77,502 sq ft (7,200.2 sq m) over ground and five upper floors. Office suites range between approximately 400 and 6,571 sq ft with most units capable of being inter-linked to increase flexibility

The office accommodation is multi-let on 16 leases with 10,320 sq ft (in two suites) left to let.

Assuming a 12-month rent guarantee on the vacant accommodation at £55 per sq ft, the proposed net rent will be £4,319,414.41 pa (£55.75 per sq ft).

Tenants include Sybarite, Firefly, Aveva, Magnetise, Gaming Factory, Swisse Wellness, Kau Media Group, Cyan Blue Odds, Deltek, Clearpeople, Vista Entertainment, Gram Games, Moley Robotics and Origin Coffee. There is an AWULT of 4.25 years.

The asset is owned in a Jersey SPV which may be available by separate negotiation.

The building reached practical completion in May 2016 following a comprehensive refurbishment. Office leasing has been dealt with by CBRE, Frost Meadowcroft and HNG.

GM Real Estate is handling the disposal.

pnorman@costar.co.uk

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