Development Securities have announced that Scottish Widows Investment Partnership Property Trust will commit £50 million to the forward funding of the first phase of its speculative Hammersmith Grove development.
The site, previously owned by Transport for London (TfL), is next to the Hammersmith & City line station and immediately to the north of the Broadway. The 1.5 acre site is currently used as a surface car park and will be transformed into two prime office buildings designed by BFLS totalling 275,000 sq ft of modern space. The creation of high quality office space will be further enhanced by the provision of new restaurants and cafes as well as significant public open space.
It is envisaged that construction of phase one, the building located to the south of the site facing onto Lyric Square, will commence on site towards the end of this year with completion targeted for early 2013. The building comprises 110,000 sq ft net offices, and 6,000 sq ft of restaurants and cafes.