The Metro Building was constructed in the late 1970’s and provides 105,237 sq ft NIA over 11 floors, each floor configured into two wings around a main central core.
The office floor configuration offers versatile space across all floors and benefits from exceptional natural light throughout.
The building is accessed via an impressive double height reception which was fully refurbished in 2020.
Location
Hammersmith is the main western gateway to Central London approximately 3.5 miles from London’s West End, bordered by Fulham, Kensington Olympia and Shepherds Bush and only 10 miles east of Heathrow Airport.
Hammersmith is a well-established commercial and cultural hub in West London. The local environment combines riverside lifestyle appeal with a wide range of amenities, including bars, restaurants, and retail offerings at Kings Mall and Broadway Shopping Centre. With a growing focus on mixed-use regeneration.
Strategically located, the area has long been favoured by major international occupiers as HQ destination, these include: Disney, Qantas, Philip Morris International & Capcom.
Accommodation
The property has been measured by Plowman Craven in accordance with the RICS Code of Measuring Practice (6th Edition). A copy of the measured survey report is available on the data site and can be assigned to a purchaser.
Roof Ancillary - 2,925 sq ft sq ft GIA
Floor 10 Office - 5,719 sq ft NIA - 13,022 sq ft GIA
Floor 9 Office 11,100 sq ft NIA - 14,116 sq ft GIA
Floor 8 Office 11,239 sq ft NIA - 14,103 sq ft GIA
Floor 7 Office 11,213 sq ft NIA - 14,076 sq ft GIA
Floor 6 Office 11,259 sq ft NIA - 14,106 sq ft GIA
Floor 5 Office 11,446 sq ft NIA - 14,123 sq ft GIA
Floor 4 Office 11,189 sq ft NIA - 14,155 sq ft GIA
Floor 3 Office 11,410 sq ft NIA - 14,145 sq ft GIA
Floor 2 Office 11,080 sq ft NIA - 14,079 sq ft GIA
Floor 1 Office 5,775 sq ft NIA - 10,152 sq ft GIA
Floor 1 BMA 185 sq ft NIA
Ground Floor Office - 3,351 sq ft NIA - 10,877 sq ft GIA
Ground Floor BMA - 271 sq ft NIA
Total - 105,237 sq ft sq ft NIA - 149,879 sq ft GIA
Terms
Planning - The property is situated within the London Borough of Hammersmith & Fulham. The property is not listed or within a Conservation Area.
VAT - The property has been elected for the purposes of Value Added Tax and will be treated as TOGC.
EPC - The property has an Energy Performance Certificate (EPC) rating of D.
Further information is located within the dataroom.
Dataroom - Access to an online dataroom containing further information is available on request.
Proposal - On behalf of Fixed Charge Receivers, we are instructed to seek offers in excess of £20,000,000 for the freehold and long leasehold interests, subject to contract and exclusive of VAT. This reflects a capital value per sq ft of £190 and a NIY of 12.30% assuming purchasers costs of 6.80%.
Specification
The Metro Building presents an exceptional opportunity to reposition and enhance the existing building whilst also exploring the potential for a range of alternative uses.
Investment Summary
- Freehold.
- Prominent location in the heart of Hammersmith, opposite Hammersmith Broadway.
- Significant 0.96 acre/ 0.38 hectare site providing low site coverage of 32%.
- Excellent transport infrastructure.
- The building comprises 105,237 sq ft (9,776.8 sq m) NIA arranged over ground and ten upper floors.
- Flexible floor plate of c.11,500 sq ft split between 2 wings and accessed via a main central core.
- Multi-let to five tenants over eight floors (63,250 sq ft).
- Annual contracted income of £2,627,106 per annum, reflecting a low £25.07 per sq ft.
- Short WAULT of 6 years to expiry and 1.30 years to breaks on contracted income facilitating immediate refurbishment.
- Current planning policy is supportive of increased density and mixed use on site.
- Feasibility studies carried out by Alchemy Asset Management and EPR Architects identify the potential to substantially increase massing up to 362,000 sq ft for office and mixed use schemes.
- Positive written responses received from Hammersmith & Fulham to formal pre-application meetings.