Quoted property company Helical Bar has put its money on the Hammersmith office market and purchased Broadway House, in King Street, London W6, for just over £14million.
The 35,000 sq ft property is let to occupiers including Kaplan Financial, Dolland & Aitchison and Ladbrokes and the deal reflects a net initial yield of 5.7%.
Helical Bar hopes to take advantage of the shortage of grade A office space in the area and plans to immediately start a refurbishement of the second and third floors according to chief executive Mike Slade.
David Cuthbert of Hanover Green comments: “This is an astute purchase by Helical Bar. Office demand in Hammersmith remains incredibly strong with rental levels on the up as evidenced by our recent letting on 44 Brook Green.”