Canmoor Developments in partnership with British Airways Pension Fund has submitted one of West London's largest planning applications for a £30-million (c. €41m) 120,000 ft² industrial scheme. Plans for the four-acre former BBC site on Kendall Avenue, Park Royal, Acton comprise a range of industrial units from 3,000 to 35,000 ft².
Canmoor development director Jules Benkert said, "This is a fantastic location within walking distance of two tube stations. The scheme was submitted following careful consultation with Ealing Borough Council and with the support of Park Royal Partnership. We hope to be on site early in the new year."
Doherty Baines and CBRE are advising.
Canmoor again funded by British Airways Pension Fund has also bought a prime five-acre redevelopment site at Heathrow from film processor Technicolor.
Canmoor saw off stiff competition from Parkridge, I.O.G and others to acquire the site which fronts the Bath Road, immediately to the north of Heathrow Airport. Technicolor, is shortly to decommission the plant due to a relocation and sold the site with an 18-month leaseback, at an annual rent of £540,000 per year.
Canmoor has rapidly become one of the south of England's most active industrial players and has established partnerships with property heavy weights such BA's pension fund, Invista and Kenmore.
The site offers the potential for an industrial, office or hotel redevelopment and the leaseback will be used to explore these opportunities. The agents report there are several substantiated enquiries in the market as self-contained sites of this nature are rare.
CBRE advised Canmoor and Doherty Baines advised Technicolor.
Source: Porterfield
