Brunswick Property Partners (BPP) has acquired two properties for a combined €44.7m (£40m) for Akoya, its new €1.12bn (£1bn) London neighbourhood workplace venture. BPP has acquired Carlson Court in Putney from the international business of Federated Hermes for €25.7m (£23m) and 111-115 Salusbury Road in Queens Park from a private investor for €18.4m (£16.5m). The acquisitions increase the size of Akoya’s portfolio to 6 properties with a value of around €223.5m (£200m).
Carlson Court, located on Wandsworth Park, is a 45,000ft² vacant office building with views over the Park and the River Thames. BPP will carry out a comprehensive refurbishment and extension of the property to deliver a high-quality neighbourhood workspace campus. It will incorporate best working practices, including sustainability, health and wellbeing, flexibility and technology. The campus will include first-class amenities, including a restaurant, café, gym, extensive parking and cycle facilities, in addition to a “park-scaped” courtyard and terraces overlooking the river.
111-115 Salusbury Road is a 29,000ft² Grade A office building, let to AMC Networks International, until June 2021. Akoya already owns a large workspace estate in Queens Park (Lonsdale Road and NW Works) and sees this purchase as a natural extension to its holdings. BPP intends to convert the building into multi-let office space when the lease with AMC Networks International expires and to add a two-storey, 10,400ft² extension on the roof, for which there is planning consent.
Jamie Acheson, Senior Director of BPP, said: “Carlson Court is a natural extension south of the river for our Akoya venture. This project provides an exciting opportunity to create a sustainable neighbourhood workplace that will appeal to local businesses and occupiers wishing to relocate from central London. Akoya was founded in Queens Park and so 111-115 Salusbury Road was a natural acquisition for the venture. The property enjoys beautiful views across the green spaces of Paddington Cemetery, is a short walk from the tube station and sits in the midst of all the local amenity that Queens Park offers”.
