Standard Life puts L'Oreal HQ on the block

By Paul Norman - Thursday, July 13, 2017 15:00

Standard Life Investments has brought to market L'Oreal's 110,106 sq ft UK headquarters in the centre of Hammersmith, west London for £57.4m, a net initial yield of 7.25%.

The building at 255 Hammersmith Road located at the junction of Hammersmith Road and Butterwick, on the eastern side of Hammersmith Roundabout, directly opposite Hammersmith Broadway.

 

255 Hammersmith Road is
situated in a highly prominent
position at the junction of
Hammersmith Road and
Butterwick, on the eastern side
of Hammersmith Roundabout,
directly opposite Hammersmith
Broadwayat 255 Hammersmith Road is located at the junction of Hammersmith Road and Butterwick, on the eastern sideof Hammersmith Roundabout,directly opposite Hammersmith Broadway.

 

It is occupied on a reversionary lease expiring in 2022 at £4,444,000 pa, a rent of just £39.78 per sq ft overall.

The majority of the interest for sale is held long leasehold from Aviva expiring 10 January 2098 (circa 80.5 years unexpired) at a peppercorn rent.

JLL is acting for Standard Life.

pnorman@costar.co.uk

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