Welcome to our Q1 update, where we share the latest insights into the commercial property market in west London.

OVERVIEW Q1 – Commercial property market overview in West London

With the first quarter of the year well behind us now we look at how the market is looking in the commercial property market in west London. Last year ended on a high with a record level of deals in Q4, so we entered 2025 with a sense of optimism. In reality the actual results from the first quarter may have been slightly more tempered but there is definitely activity in the occupational markets, albeit at a gentler pace than predicted.

We keep on highlighting the for occupiers taking fitted space and this trend shows no sign of abating with more requirements exclusively requesting fitted and even managed spaces. Frost Meadowcroft now offer a managed service – read about this development below.

It was encouraging to see that the U.K. economy grew faster than both the U.S. and the Eurozone in the first quarter of the year with GDP exceeding economists’ expectations, although signs point to a slowdown ahead amid rising unemployment and declining confidence among consumers and businesses. On an annualised basis, the U.K.’s GDP climbed 2.9%, the strongest growth rate since early last year. The expansion was largely driven by the services sector, a key tenet of the British economy and one of the most dominant occupiers in the London office market.

Whilst the rental range in west London has remained broadly the same with £60+ deals still being achieved, there is a downward pressure on rents generally. In response, Royal London at 200 Hammersmith Road has reduced the quoting rent to £47.50 psf.

Hammersmith and Fulham

At the beginning of the year, Frost Meadowcroft secured the sale of 2 Bridge Studios, Wandsworth Bridge Road, Fulham, SW6, on behalf of renowned yacht designers, Bannenberg & Rowell Design, Achieving a capital value of £582 psf the Art Deco studio was sold to an icon of the music industry. This is the latest in a number of sale transactions Frost Meadowcroft have undertaken in Fulham.

At 245 Hammersmith Road remains Hammersmith’s largest new development. Legal & General have secured a couple of new deals this year in the 242,000 sq ft building. In Q1 they welcomed Mustard Systems who leased 8,400 sq ft at a rent of £54 per sq ft and existing occupier CF Partners doubled their presence in the building to occupy the entire 8th floor. The building was completed in 2019 and still has up to 95,000 sq ft available as a combination of Cat A, Fitted offices and Lab space.

245 Hammersmith Road W6

Vinci, the French concessions and construction company, who have had a long association with west London, took c. 3,000 sq ft at Thackeray’s New Timber Yard in Hammersmith. Totalling approximately 30,000 sq ft and launched in 2024, this boutique campus offers spaces from around 2,500 sq ft up to 17,000 sq ft. New Timber Yard offers some of the most architecturally striking and contemporary office spaces ever to be built in Hammersmith. This is reflected in the £62.50 per sq ft paid by Vinci for the fitted space.

New Timber Yard W6

At Smiths Square, the front building of Assembly London in Hammersmith, the international TV production and distribution company Tinopolis Group regeared their existing lease. The production company behind many well-known programs including Question Time and BT Sports coverage of the Premier League will occupy the 4th and 5th floors, totalling 17,100 sq ft at a rent of £47 per sq ft.

Smiths Square, Hammersmith

SYSTEMS the newest office building in Hammersmith – 115,000 sq ft for completion early 2026.  Developer General Projects are reinventing this rare 1930s building in Brook Green, West London. Originally known as Elms House, the building and surrounding 2 acres of land were occupied by J Lyons food factory which included the Lyons Maid ice creams. In the 1990s the building was taken over by EMI Records who carried out extensive renovations and changes. Systems will celebrate it’s unique character by retaining the original imposing facades and internally leaving the concrete structure exposed thereby honouring the building’s history and architecture. The developer claims that 9,500 tonnes of carbon emissions will be saved, through the re-use of the existing structure, compared to a demolish and rebuild approach.

Systems 43 Brook Green W14

227 Shepherds Bush Road, Hammersmith has been sold. Located in the heart of Hammersmith’s commercial district and totalling 14,900 sq ft GIA it achieved a capital value of £359 per sq ft GIA. Hammersmith and Fulham Council has not implemented an Article 4 Direction to restrict permitted development rights thereby allowing the change of use from office to residential provided that any proposal complies with the General Permitted Development Order.

96-98 King Street in central Hammersmith has also been sold for conversion into a mixed-use development. The approved plan includes the demolition of the existing building and construction of a new development featuring 16 flats above commercial space on the ground floor. With a net saleable area of 8,157 sq ft the site sold for £3.675m. The development aims to enhance King Street by providing high-quality residential and commercial units further contributing to the regeneration of the area.

Kensington and Chelsea

Notting Hill has always been a favoured location for the music industry so it was no surprise when Frost Meadowcroft sold 1 Colville Mews W11 to Grumpy Old Management, the music and artist management company for Ed Sheeran. The 7,000 sq ft freehold sold for £5.4m (£768 per sq ft).

Close by in Notting Dale W11, Frost Meadowcroft sold a stunning top floor studio of 2,000 sq ft at The Peoples Hall W11 to a private family office. The studio sold for £1.55m (£765 psf) and will be occupied by a fashion company.

Systems 43 Brook Green W14

185,000 sq ft Notting Hill Gate Estate Sale
Frogmore are selling the three prime commercial holdings located on Notting Hill Gate totalling 185,118 sq ft (17,198 sq m) of office and retail with a diverse mix of high-quality tenants including M&S, Ole&Steen, Pret a Manger, The Office Group t/a Fora, and Ovo Energy.
The two main office elements, United House and South Block, were fully refurbished by Frogmore under a Squires Architects design and let to FORA and Ovo Energy just over 5 years ago. Frost Meadowcroft advised Frogmore on the original office leases.
The third section, Astley House (East Block), provides a repositioning opportunity on 19-35 Notting Hill Gate with planning permission secured to redevelop and provide 35,000 sq ft of Grade A office space.

Valouran has unveiled plans to undertake the comprehensive redevelopment of an 100,000 sq ft mixed-use site on Westbourne Grove in Notting Hill. The £225m+ GDV scheme, which is situated on the junction of Westbourne Grove and Hereford Road, will comprise 28 bespoke homes and complementary retail space at street and lower ground levels.

Designed by Pilbrow & Partners, the scheme will deliver a mix of lateral, duplex and mews residences ranging in size from one to four bedrooms.

90 Westbourne Grove W2

Chiswick Tower obtains residential use

The 140,000 sq ft 19-storey purpose-built office block was built in 1966 as the headquarters of IBM. It was taken over in 1995 by BSI (British Standards Institution) and after a major refurbishment was bought by Hermes Real Estate in 2013 for a reported £56.5million and continued to be let as office space by Frost Meadowcroft. In 2022 Hermes sold to a private property company who have now obtained consent for a residential conversion under Permitted Development planning.

Chiswick Tower

HEADLINES Q1 – Commercial Property Market, West London

Deep breath for Gen Z: The office being built to attract workers back to the office

In theme with luring workers back to the office, The Round is a £2bn development in Southwark, being designed by Foster + Partners to attract Gen Z workers. With a strong focus on well-being, unique amenities including hot and cold therapy rooms, napping pods, digital detox spaces, and a variety of wellness-focused activities such as meditation and breathwork classes. Additionally, the space will include a pool and gym and air and water filtration systems.

The project aims to redefine office environments by integrating health and social well-being into the workplace, with natural light, fresh air, and community engagement at its core.  Modern employees are seeking more than just a workspace and now value a company’s social and environmental responsibility. With competition for top talent growing, businesses are seeing these features as key in attracting and retaining younger professionals. Construction has begun and is expected to be completed by 2030.

Frost Meadowcoft are reaching new markets

As a new string to our marketing bow, we are offering managed office solutions to meet the increased demand from occupiers looking for managed workspaces. In the everchanging market, this product enables landlords to cover all routes to market, focussing on the serviced and managed markets through the broker network. We offer this through our partner Workplace Plus so our clients can reach a wider audience of occupiers, especially those moving out of serviced offices who want a semi serviced solution. For more information on how managed workspace can help you, please do not hesitate to contact a member of the agency team.

Hammersmith approves ambitious Kings Road Park development

St William, a Berkeley Group company, has been granted detailed planning permission for Phase 4 of the King’s Road Park masterplan, including 357 homes and 1.9 acres of new parkland and public open space. Designed by Foster + Partners, the approved plans include a pair of slender residential towers of 28 and 38 storeys, and a seven-storey podium building. The development will feature a commercial space at ground floor level, complementing the shops and cafes included within other phases of the development.

Kings Road Park development