Welcome to the Q2 west London Office News of 2023, with an up-to-date view  of the commercial property market in West London

Your west London office news quarterly includes: Market Summary, Take-Up, Q2 Headlines, planning for Stag Brewery & Notting Hill Tower & much more west London news

OVERVIEW Q2 2023 – West London Office News

Vacancy levels across west London remained fairly static in Q2, with Chiswick being the only area that increased slightly which was reflected by the low level of transactions in that market – just 3 deals totaling 12,600 sq ft. Take up in Hammersmith & Fulham was also slow with just over 34,000 sq ft transacted in a total of 12 deals. In Paddington, the only deal of note was with existing occupier, Alpha Group taking a further 23,000 sq ft.

The push back into the office continues with Zoom, the company that helped to usher in the age of remote working, arguably benefited from the transition more than any other business, have now asked staff to ‘come back to the office’. 
They are not alone, Meta, Google and Amazon, the very same tech companies that told us the future is virtual are leading the return. Mike Hopkins, senior vice-president of Prime Video and Amazon Studios, recently said in an internal meeting that ‘it was time for workers to “disagree and commit” to coming back to the office. “We’re here, we’re back – it’s working,” he reportedly proclaimed. “I don’t have data to back it up, but I know it’s better.” It is a feeling we share!

HAMMERSMITH

At Island Studios the ethically sourced fashion house, Renfold  agreed a 5 yr lease on 4,270 sq ft at £45 per sq ft. Their brands include Hoxton Denim, Chelsea Peers, LDN DNM, Sugar Dust and Hunky Trunks.

WHITE CITY & NOTTING HILL

In Notting Hill at 125 Freston Road Phoebe Philo Ltd  leased the whole building totaling 29,675 sq ft for a 5yr term. The property was the ex Cath Kidston Headquarters.

Monnalisa Group completed at 87 Lancaster Road  on 1,122 sq ft at £41.89 per sq ft for a 5 yr term.

PADDINGTON

 

The Headliner Deal
in west London was the Vodafone lease renewal, completing on over 93,000 sq ft with a new lease at 1 Kingdom Street at £72.53 per sq ft. Vodafone have been in residence for some time with a combination of sub lease and assignments, this transaction brought it all together with a direct lease with the landlord.
The Alpha Group took 23,228 sq ft at The Point, North Wharf on a 10 yr term at a rent of C. £80 per sq ft.

CHELSEA

In Chelsea there have been several smaller deals. At Chelsea Reach Lots Road, 2,500 sq ft floor office was let at £45 per sq ft.

On the riverside at Chelsea Wharf, Jamtse Ltd took 691 sq ft for £31.84 per sq ft and Christian Bense Ltd signed for 505 sq ft at a rent of £35.00 per sq ft, both on 5 yr terms. At Plaza 535, Kings Road, London Richmond Construction Ltd completed on 1,070 sq ft at £25.00  per sq ft for a 3 year term.

CHISWICK

At the former Singer Sewing Machine Factory, Power Road Studios is the success story in the Chiswick market. Frost Meadowcroft completed on 13,854 sq ft to So Energy, supplier of gas & renewable electricity, (8,380 sq ft in Studio 2  with a lease renewal for 5,474 sq ft in Studio 1) at £46.50 per sq ft for a 5 yr term.

The Beauty Crop, the UK made plant-based beauty brand, took a further 2,954 sq ft at Power Road Studios at a rent of £46.00 per sq ft  on a 3 yr term.

Market Update Q2 – DOWNLOAD PDF

Frogmore have pushed the button on the refurbishment of their East Block Scheme, Astley House, Notting Hill Gate. This will be the final piece of their portfolio of retail, office and leisure uses totalling 195,000 sq ft. A comprehensive refurbishment of 62,000 sq ft was completed in 2018 where Frost Meadowcroft worked with
Frogmore to secure The Office Group and OVO Energy as tenants. This last phase will provide over 35,000 sq ft of new office space for 2025.

Market Update Q2, west London offices news

Spacemade, the co-working flex office operator launched Fulham Works in July from Frost Meadowcroft’s fund clients building at Fulham Broadway Centre with space already having been reserved prior to opening.  Spacemade is not a typical flexible workspace operator. They work each location with a brand identity and feel to suit its local market and community.
Spacemade are now in talks with another client of Frost Meadowcroft’s for a further site in west London. Clerkenwell, Putney, Wimbledon Village, The Strand and Marylebone are amongst their existing
12 locations.

 

Richmond Council’s planning committee approved two planning applications from Reselton Properties Ltd in July for the old Stag Brewery site in Mortlake.
The Squire & Partners scheme will deliver more than 1,000 housing units (including 65 affordable homes), offices, shops and a secondary school,  The development includes tower blocks up to nine storeys tall, restaurants, a hotel, cinema and 1,200-pupil secondary school.

The scheme has focussed on it’s environmental credentials, including being fully electric with all hot water and heating provided by air source heat pumps. Reselton state there will be a net gain in biodiversity at the site, around 10 acres of public space and a new park, while sports facilities at the “much-needed” school could be used by the public outside of school hours and in the holidays.

The west London tower approved for demolition three years ago could now be refurbished as per new plans by Squire & Partners.
The new proposal, recently submitted to Kensington & Chelsea Council, is now office-led and involves extending the existing tower by three storeys and redeveloping other buildings.
Alongside the tower, the site also offers ground floor retail on Notting Hill Gate and Kensington Church Street.
Newcombe House has long been earmarked for regeneration. Former owners Brockton Capital planned to build a 17-storey tower rejected twice by the Council leaving the building’s future in planning limbo. It was finally given the green light by Housing Secretary Robert Jenrick in 2020. 
The site sold to Beltane & Angelo Gordon in 2022 for a figure in the region of £100 million. 

West London Office News – Launching this Autumn…

A former timber yard, thoughtfully redesigned to provide four office buildings set around a central courtyard within a gated campus.
Buildings from
5,000 – 15,000 sq ft
totaling 35,000 sq ft 

 

West London Office News – Launching this Autumn…

A former timber yard, thoughtfully redesigned to provide four office buildings set around a central courtyard within a gated campus.
Buildings from
5,000 – 15,000 sq ft
totaling 35,000 sq ft