Virgin Media is more than doubling the size of its London headquarters.
Richard Branson’s media group is under offer to take 45,000 sq ft on a 10-year lease with a five-year break option at LaSalle Investment Management’s Griffin House, W6. It will pay around £37.50 per sq ft at the 87,000 sq ft Hammersmith Road office.
The television and telecoms provider will exit the 20,000 sq ft it occupies at nearby Bechtel House later this year.
Engineering firm Bechtel is also exploring options to vacate the building. It is looking for a new headquarters of as much as 100,000 sq ft on the outskirts of London and has been linked with Oxford Properties’ Green Park in Reading, Berkshire.
The moves would allow Bechtel House’s owner, Legal & General Property, to start a refurbishment of the 170,000 sq ft block it bought in August 2012 for £42.3m – a 9.8% yield.
Strutt & Parker and Knight Frank represent LIM; BNP Paribas Real Estate acts for Virgin Media; Andrews Denford & Boyd advises Bechtel.
Joanna.Bourke@estatesgazette.com
