Peakside Capital, a specialist European real estate private equity firm, announced the launch of 80 Hammersmith Road, its 41,700 ft² (3,860 m²) grade-A office redevelopment in Hammersmith, West London. With approximately only 2% of Hammersmith's available office space designated as grade-A, 80 Hammersmith Road is set to be one of the few buildings of its size and quality delivered to Hammersmith and the west London market this year.
The building underwent an extensive eight-month redevelopment and refurbishment.
The vacant building was bought last year by Peakside together with Mercer Real Estate Partners, on behalf of Peakside Real Estate Fund I, and since then has undergone a significant eight-month redevelopment and refurbishment to create a high spec office building which benefits from good sized, rectangular and efficient floorplates. Well located in the heart of Hammersmith, a short distance from Hammersmith, Baron's Court and Olympia stations, the completed development has a greatly enhanced frontage to Hammersmith Road and Brook Green, with a completely reconfigured ground floor reception area. The building also provides 47 secure parking spaces.
The property represents the first London/UK holding for PREF I, a pan-European opportunistic fund with a total of 261 million of capital commitments, and is in line with the Fund's strategy to acquire well located assets that offer exceptional asset management opportunities for value enhancement.
Boris Schran, Founding Partner and Head of Origination and Acquisition of Peakside Capital, said: "The redevelopment of 80 Hammersmith Road offers occupiers spectacular grade-A office accommodation in a London location benefitting from excellent transport connections, yet which is competitively priced. One of Peakside's strategies for the Fund is to create value through active asset management. We are regularly partnering with local experts such as Mercer to execute this. 80 Hammersmith demonstrates Peakside's ability to deliver a first class product tailored specifically to the target occupier market and the growing number of international companies choosing to relocate to Hammersmith."
Hanover Green and Strutt & Parker are acting as letting agents on the scheme.
Source: FTI Consulting