Croudace Properties acquires West London offices at Chiswick Gate

West London office building purchased for £3.15m

Article posted: 01 Feb 2011

A client of CBRE Investors has sold the freehold interest of Chiswick Gate, London, W4, to Croudace Properties Ltd for £3.15 million reflecting a net initial yield of 8.78%.

The property was constructed in the 1980's and is arranged over basement, ground and three upper floors, providing 13,262 sq ft of office space in West London. The property includes 38 secure basement car parking spaces providing an excellent car parking ratio of 1:349 sq ft.

The building is multi-let to four tenants on full repairing and insuring leases producing an annual income of £292,728 pa.

Croudace Properties is an established property investment company with a portfolio which includes office, retail and industrial assets.

In January US private equity firm Blackstone acquired Chiswick Park office scheme for £480m. The office park which was owned by Chiswick Park Unit Trust and managed by Aberdeen Asset Management, Schroders and Stanhope comprises 1.9m sq ft of offices in Chiswick.

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Posted by Aree J Rand