The new investment is a redevelopment of 43 Brook Green, which is an office building at a prominent location in Central London, with an NIA (net-internal-area) of 86,000 sq.ft. The plan includes adding approx. 40,000 sq.ft. of additional massing, along with refurbishing the existing space, in order to reposition it to a Grade-A, ESG Compliant office space, with a total area of approx. 126,000 sq.ft. neo capital have partnered with General Projects as the Project Development Manager. General Projects is a real estate development company, specialized in creating Grade-A commercial assets across the UK. They have a successful track-record in developing and redeveloping over 1,000,000 sq.ft. We, at neo capital, think that redeveloping the asset comes in at an appropriate time to benefit from the powerful dynamics of the Central London office market, which has witnessed a 7% CAGR (Compounded Annual Growth Rate) in Grade-A rents in recent years.
neo W6 is located in the prominent sub-market of Brook Green, Hammersmith.
The sub-market comprises of office and residential properties and is located in west London, which attracts tenants, primarily from TMT and professional service sectors.