The Thackeray Estate’s acquisitions and exchanges over the summer in London could add more than £40m of value to its existing £300m portfolio.
Key deals include the acquisition of a 21,000 sq ft commercial site in Hanwell, W5; the completion of a 25,000 sq ft site in Hammersmith, W6; and the sale of a 7,000 sq ft site on Hardwick Square, SW18.
The site in Hanwell occupies a corner position on the western side of Windmill Lane leading to Uxbridge Road. The current building is arranged over three floors and comprises a double-height warehouse unit situated on the ground floor, and two additional floors comprising office accommodation. Planning has been submitted for a 150,000 sq ft residential scheme.
The sale of a contemporary Edwardian building fronting on to the high street on Hardwick Square follows permission granted for a boutique scheme of nine one- and two-bedroom apartments on the site.
Plans have also been given the go-ahead for a mixed-use development in recently vacated premises on the corner of Old Brompton Road and Creswell Gardens, Chelsea, SW7.
The 15,000 sq ft site will accommodate a scheme comprising 17 apartments and include a lateral apartment running across four buildings. The projected GDV of the scheme will be in excess of £30m.
A 16,500 sq ft commercial site on Fellmonger’s Path, SE1, has received planning permission for conversion into a residential scheme comprising 11 units with a GDV of £10m.
Charles Thompson, director at The Thackeray Estate, said: “Recently we’ve been focused on optimising the development potential of a number of sites in our growing portfolio. To gain planning permission for these two sites has significantly increased their value, enabling us to develop high-quality product in these two key London areas.”
