The Thackeray Estate, a leading property development and asset management business, is pleased to announce the addition of two new office developments in South West London to its portfolio. With a track record of regenerating sites – often rich in heritage – into high-quality mixed-use spaces, Thackeray have now obtained planning consent for Woodyard in Dimes Place, Hammersmith and Assembly Rooms, a purpose built headquarter office on Putney High Street, with a GDV of £25m and £30m respectively. Following on from the very successful development and sale of The Eastcheap Estate for £45.5m in the City earlier this year, the deal marks the next stage of The Thackeray Estate’s expansion plan. The Company will use their experience to develop both buildings into state-of-the-art workspaces which integrate sustainable energy technology.
The South West London market has been one of the strongest performing regions over the last year and the Company is eager to continue to source and develop high quality office spaces in the area. The Thackeray Estate has employed Cameron Mitchell, who previously worked for CBRE’s Central London Development team, to spearhead the expansion plan.
The South West London office market has gone from strength to strength as it provides the perfect location for businesses and workers alike. A number of large companies and startups have relocated to South West London; these businesses are increasingly looking for options outside of Central London to avoid costly, and often restrictive, office leases and to allow their employees to be closer to home and amenities. Being located near to Hammersmith and Putney’s residential areas means that employees can live nearby and will have shorter commutes, and, from a commercial perspective, it is close to a deep talent pool.
Currently, there is a demand for high-quality office space in South West London, therefore, the Company views this as an excellent opportunity to enter the market. The Assembly Rooms is the first purpose built headquarter office building to be constructed in the area during this financial cycle and marks a significant step forward for Putney as a key business area.
Charles Thompson, Director, said: “We are delighted to be beginning the second stage of The Thackeray Estate’s expansion plan to deliver carefully designed, state-of-the-art mixed-use developments. We are seeing increasing demand from businesses who want high-quality workspaces outside of Central London but do not want sky-high rents. Our Headquarter office developments at Woodyard and Assembly Rooms will offer tenants a distinctive and modern “campus” style workspace that is increasingly desired by businesses. We pride ourselves on our ability to create highly desirable working environments through our use of bespoke, design led schemes which focus on the employee.”
Woodyard, Hammersmith
The Thackeray Estate is at the forefront of creating modern, state of the art workspaces in locations where businesses and people want to work. At Woodyard, off King Street in the centre of Hammersmith, The Thackeray Estate plans to expertly create a campus of three environmentally sensitive office blocks that will provide workspace for 200-250 employees. The 30,000 sq. ft scheme will offer standalone headquarter buildings and office units for smaller start-up businesses. Parts of the original cobbled paths and walls will remain, maintaining the character and authenticity of the building whilst creating a sustainable, eco-friendly campus with a discreet start-up feel, with delivery expected for Q4 2020.
Assembly Rooms, Putney
The Thackeray Estate has acquired a second building on Putney High Street, which will be the first purpose-built office building in Putney within this financial cycle. The former cinema, named ‘The Assembly Rooms”, is a three-storey historic corner building on Werter Road originally built in the 1870s. The Thackeray Estate will incorporate the classic aesthetic into the interiors to create a contemporary office with retained historic character. Shaun Wolfe of Frost Meadowcroft and Ed Smith of BNP Paribas Real Estate have been appointed to act as letting advisors.
