Development Securities PLC and the SWIP Property Trust has announced that hotels group, Accor UK Business & Leisure Hotels Limited, has signed a lease at 10 Hammersmith Grove to occupy the first and half of the second floor of the building, representing 25,000 sq. ft. of office space. Accor UK Business & Leisure Hotels Limited, which owns a number of hotel brands including Novotel, Sofitel and Mercure, will move from its existing UK headquarters at 245 Hammersmith Road following the end of its lease.
This is the second office letting at 10 Hammersmith Grove following the announcement in February 2014 that media company, UKTV had taken two floors of the building. The whole of 10 Hammersmith Grove is now let or under offer.
Forward-funded by the SWIP Property Trust, part of Aberdeen Asset Management, for £50 million, 10 Hammersmith Grove is the first of two office buildings in the centre of Hammersmith, adjacent to the underground station. It includes 110,000 sq. ft. of Grade A office space as well as extensive new public realm and three restaurant units at ground level. Construction of the second building, 12 Hammersmith Grove, which will provide a further 167,000 sq. ft. of prime office space, started in April 2014 and is due to complete in Q1 2016. This final phase is also being delivered in partnership with SWIP Property Trust who forward funded the development for £92 million.
Julian Barwick, Executive Director, Development Securities said: “We are very pleased with the progress we are making at 10 Hammersmith Grove which offers by far the best office space in Hammersmith and which is establishing itself as a significant new commercial destination for West London.”
Kerri Hunter, Deputy Manager of the SWIP Property Trust commented: “The success we have had with UKTV and Accor, two high calibre brands, underlines the quality of the product that we have created with 10 Hammersmith Grove. We look forward to announcing further lettings in due course and completing the development of 12 Hammersmith Grove.”
Development Securities and the SWIP Property Trust were advised by Strutt and Parker and Jones Lang LaSalle. Accor was unadvised.
Source: Development Securities 25. June 2014