European private equity firm Peakside Capital has completed the sale of 80 Hammersmith, a 3,860 m2 redeveloped office building in Hammersmith, West London for over 拢20 mln (鈧�23 mln).
European private equity firm Peakside Capital has completed the sale of 80 Hammersmith, a 3,860 m2 redeveloped office building in Hammersmith, West London for over 拢20 mln (鈧�23 mln).
The buyer is local privately held group Britannia Invest.
Peakside, together with Mercer Real Estate Partners, acquired the then vacant asset in April 2011 on behalf of the Peakside Real Estate Fund I.
The company undertook a 拢3.7 mln redevelopment and refurbishment plan and leased the property in full at average prices of 拢36.4/sq ft.
'We saw an opportunity to reposition an underperforming asset into a market with a clear undersupply of grade A office space, with supply currently standing at only 0.7%,' said Boris Schran, founding partner and head of acquisitions at Peakside.
DWF advised Peakside on the transaction and Herbert Smith Freehills advised Britannia Invest.
