London College of Fashion dresses £42.5m campus for sale
The London College of Fashion’s campus in west London has been put up for sale, with sellers hoping to achieve £42.5m for the site.
The two-acre site in Shepherd’s Bush is being offloaded by University of the Arts London, as the institution looks to consolidate the college’s handful of campuses across the capital into one in Stratford.
UAL is selling the freehold to the campus at 40 Lime Grove, W12, which contains 104,000 sq ft of lecture theatres, seminar rooms, design studios and offices.
The London College of Fashion’s campus in west London has been put up for sale, with sellers hoping to achieve £42.5m for the site.
The two-acre site in Shepherd’s Bush is being offloaded by University of the Arts London, as the institution looks to consolidate the college’s handful of campuses across the capital into one in Stratford.
UAL is selling the freehold to the campus at 40 Lime Grove, W12, which contains 104,000 sq ft of lecture theatres, seminar rooms, design studios and offices.
Agents are pitching the site as a potential life sciences opportunity, given its proximity to a similar educational hub at the White City regeneration area – a so-called innovation district for science, tech and the creative industries.
The area will also become home to several major regeneration projects, including at the nearby Westfield Shopping Centre, Soho House, and around 3,000 homes.
Nick Pemberton, partner at Allsop, said: “This is an exceptional opportunity for UK and international investors to acquire a two-acre site in central London, where two-thirds of the built space has circa four metre ceiling heights.
“40 Lime Grove is likely to attract bids from international schools and universities keen to benefit from the UK capital’s outstanding academic credentials and student market, as well as other possible uses which may include the growing life sciences sector.”
It comes as LCF gears up for the move to its new site at East Bank in Stratford in 2023, at which point the new owner of its West London campus will get vacant possession.
The college’s new home is part of a wider regeneration project by the publicly-owned London Legacy Development Corporation, which is part-redeveloping the former Olympic Park.
When complete, the Newham hub will host new centres for BBC Music and the V&A Museum, and campuses from UCL. Last year, it emerged that the waterfront development had overspent by £157m, with taxpayers picking up part of the bill.
To send feedback, e-mail alex.daniel@eg.co.uk or tweet @alexmdaniel or @EGPropertyNews
Image courtesy of PR
View other planning applications in W12 on EG Radius >>
