Blackstone announces the appointment of Lend Lease as Contractor and Stanhope as Development Manager to start the development of Building 7 at Chiswick Park, the final and largest building on the Park in West London.
Work on the 12-storey Building 7, which will total 334,000 ft² (approx. 31,029 m²) is scheduled to start in early March, with completion of the £80 million (approx. €92.4 million) construction project expected in December 2014. When complete, the building is expected to be home to over 3,000 office workers. Building 7 will bring the total amount of built space on the Park to 1.8 million ft² (approx. 167,225 m²).
Since Blackstone purchased Chiswick Park in March 2011, a total of nearly 400,000 ft² (approx. 37,161 m²) has been let to tenants including Aker Solutions, International Game Technology, Otis Lifts, International SOS, Swarovski, Absolut Spirits and Pepsi. Following these deals, vacancy on the Park is less than 1%.
Ken Caplan, Head of Real Estate for Blackstone in Europe, said: 'We continue to see extremely strong demand for space at Chiswick Park both from existing and potential new tenants, driven by the high quality physical environment, the unique Enjoy Work on-site program and the affordable all-in occupancy costs. This has given us the confidence to launch Building 7 and so complete the Park.'
Source: FTI Consulting