A few take-aways from the Frost Meadowcroft Market Update – May 2016

Office, property investment and development highlights in West London over the last quarter include the doubling of office space in Hammersmith, planning consent for Kensington Odeon redevelopment, and the expansion of Westfield White City

33,500 sq ft of office space at the newly-refurbished Aircraft Factory, alongside a further 30,000 at the former Coca Cola HQ on Queen Caroline Street, has contributed to a doubling of vacant office space in Hammersmith and Fulham. This, is in addition to a further 167,000 sq ft at Hammersmith Grove, means that office space now makes up 8.93% of the entire stock in the area, up from 3.85% last quarter. 

Planning consent has been granted for the redevelopment of Kensington Odeon, including a post office and a new office block on the corner of Kensington High Street and Earls Court Road.  

Further permissions recently granted in the area included a new Crossrail 2 station on the Kings Road in the centre of Chelsea – an idea that was first proposed in 1904 to better connect the area, which is not currently served directly by existing tube or rail lines. Officials in Hammersmith and Fulham are currently lobbying for the new station to be relocated to Imperial Wharf, although the £80million Crossrail 2 project is still decades away from completion.  

Westfield White City’s plans to expand in Shepherd’s Bush have received planning approval, to include a new, four-storey John Lewis store, new shops, and around 1,300 homes and community facilities. The retail portion of the project could be ready to open as soon as December 2017. 

For further details, insights and updates from the Frost Meadowcroft Market Update, click here