Gillette’s former European headquarters in west London has been brought to market as a £150m redevelopment opportunity.
Savills has been appointed to sell the Bonnington Group-owned Gillette Corner site in Isleworth, Middlesex, in a National Asset Management Agency-enforced sale.
The 10.3-acre site includes a 327,000 sq ft Grade II listed building and several warehouses and is expected to fetch at least £20m. It is ripe for a potential £150m redevelopment.
Bonnington secured consent from Hounslow council at the end of 2008 for 506,000 sq ft of offices and a 500-bedroom hotel.
The council is keen to see the site redeveloped and an alternative scheme including residential, leisure, industrial or distribution use is likely to be considered.
Stanhope attempted to buy Gillette Corner in May 2011 and a number of other parties have since held talks over the site.
Savills associate director Oliver Fursdon said: “Gillette Corner is a highly recognisable landmark site. The quantum of existing and potential space, and the connectivity of the site make it an attractive opportunity.”
Jim McGettigan’s Bonnington bought the site in late 2005 for about £30m after seeing off competition from Heron, Hines, Kier, Tesco and a joint bid from Brentford Football Club with Active Asset Investment Management.
The deal was funded by Allied Irish Bank, which became Irish Bank Resolution Corporation in October 2011. This week IBRC’s entire €16bn (£13.8bn) assets were transferred to Nama.
Gillette Corner was Gillette’s headquarters in Europe from 1937 until 2006, when the group moved its operations to Poland.
nick.whitten@estatesgazette.com
