Westerland Real Estate has appointed CBRE to sell the Grade II listed ex-Ford Motor warehouse in Hammersmith which has been converted into a striking office block for £97.3m – a 4.7% yield.
The 118,845 sq ft 184 Shepherds Bush Road, W2, was pre-let let to Tesco owned dunnhumby on a 15 year lease with no breaks in 2013 at rent of £39.50 per sq ft.
The lease is subject to upward only rent reviews which is likely to prove attractive to investors given current prime rents in the Hammersmith market now top £57.50 per sq ft.
The ColladoCollins designed office conversion, which completed earlier this year, retained the landmark building’s period features while adding three modern office floors within its glazed skeleton.
The building, which was originally built for the Ford Motor Company as a garage and showroom in 1916, boasts floor plates of 23,000 sq ft.
Shekha.Vyas@estatesgazette.com
